Gold Plummets, Silver Soars: Strong Dollar Reshapes Precious Metals Market

• Gold prices dropped 1.5% to $4,793.97 per ounce on Monday, hitting a one-week low due to a strong US dollar.
• Silver prices surged 1.6% to $85.98 per ounce, rebounding from a three-week low after a previous rapid decline.
• The strong dollar makes gold more expensive for international buyers, reducing demand and putting downward pressure on prices.
• Investors are closely monitoring US monetary policy and the potential impact of Kevin Warsh's nomination for Fed Chairman on interest rates.
• In India, 24-carat gold is approximately ₹16,058 per gram, with experts predicting long-term strength for gold despite short-term fluctuations.

Why It Matters: A strong US dollar is driving gold prices down while silver sees a significant rebound.