Nifty Media gained 1.59%, while Nifty PSU Bank rose 0.28%. Nifty Auto and Nifty Metal declined 0.45% each, followed by Nifty Energy with a 0.40% fall.
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Nifty Media gained 1.59%, while Nifty PSU Bank rose 0.28%. Nifty Auto and Nifty Metal declined 0.45% each, followed by Nifty Energy with a 0.40% fall.
The unexpected move has revived concerns about rising borrowing costs and exerted downward pressure on the dollar, making gold that's priced in the currency cheaper for many buyers.
Brent crude traded near $92 a barrel on Tuesday, while West Texas Intermediate hovered around $85. Brent had fallen more than 2% in the previous session.
Asian equities opened mixed on Tuesday, with South Korean stocks leading regional declines as investors weighed rising tensions around Iran, while oil held near $92 a barrel.
Fundamental outlook for precious metals remain bullish, with dips likely to attract strategic buying unless macro liquidity conditions reverse.
Shell Plc CEO Wael Sawan said the market for oil products was being squeezed by the "triple threat" of Russian refinery attacks and the dangers to shipping in the Persian Gulf and Red Sea.
The Nifty 50 settled 32.95 points, or 0.14%, lower at 24,219.05, recovering 36.25 points from its provisional close. The Sensex ended 170.70 points, or 0.22%, lower at 77,370.13, improving 42.03 points from its provisional close.
Silver futures consolidated within the Rs 2,42,000 Rs 2,27,481 range from August 7 to August 19, and then broke out of this range on August 21, supported by decent follow-through buying and rising volumes.
Gold prices hit their highest levels in more than three months in the global market. Investors now await key US inflation data and a speech later this week by Federal Reserve Chair Kevin Warsh.
The metal powered more than 5% higher last week after the Treasury announced a surprise ramp-up in buybacks of long-dated government debt, driving yields and the dollar lower.