Gold Crashes 2%, Silver Plunges 5%! India Cuts Import Price, Dubai Supply Resumes

• Gold prices plummeted 2% and silver 5% in domestic markets, mirroring global declines for the second consecutive week.
• Strong US dollar, rising interest rate concerns, and geopolitical tensions from the Iran conflict are key factors driving the fall.
• Indian government reduced the Gold Base Import Price by $12 per 10 grams, from $1664 to $1652.
• Gold supply from Dubai, a major trading hub, partially resumed as international flights restarted.
• Future trends depend on US dollar movement, Fed's interest rate stance, and Middle East tensions.