NEW DELHI, Sep 17: Gold prices fell by ₹1,300 to ₹1,13,300 per 10 grams in Delhi on Wednesday as investors booked profits ahead of the US Federal Reserve’s policy decision.
On Tuesday, gold had surged to record highs, with 99.9% purity hitting Rs 1,15,100 per 10 grams.
The pullback reflects cautious market sentiment, as investors await the Fed’s interest rate decision and forward guidance.
Analysts warned that a neutral or less dovish stance could trigger further downside in bullion.
Silver also declined sharply, dropping ₹1,670 to ₹1,31,200 per kg after touching a record RS 1,32,870 in the previous session.
Globally, spot gold fell nearly 1% to $3,664.82 per ounce, while silver dropped almost 3% to $41.38 per ounce.
Market focus now shifts to Fed Chair Jerome Powell’s remarks and the updated economic projections, with expectations of a 25-bps rate cut but potential dissent from some Fed governors. (PTI)
