NEW DELHI, Dec 9: Gold and silver prices fell sharply in India on Tuesday ahead of the US Federal Reserve’s policy meeting.
In Delhi, gold dropped Rs 1,000 to Rs 1,31,600 per 10 grams, while silver plunged Rs 4,500 to Rs 1,80,500 per kilogram, reflecting subdued local demand and cautious trading.
Analysts said investors were awaiting the FOMC announcement and Federal Reserve Chair Jerome Powell’s press conference for guidance on future monetary policy and its impact on the US dollar and bullion prices.
Globally, spot gold rose modestly to USD 4,205.57 per ounce, while silver edged up to USD 58.59 per ounce.
Rising US Treasury yields and fiscal concerns added pressure, but anticipation of a 25-basis-point Fed rate cut supported market sentiment. (PTI)
