Gold and silver prices remained under pressure on Monday after stronger US employment data increased expectations that the US Federal Reserve could maintain a tighter monetary stance.
MCX gold futures declined to around Rs.1.52 lakh per 10 grams, while silver futures also witnessed a sharp fall. Over the last two sessions, gold and silver have corrected significantly as traders reassessed the outlook for US interest rates.
Higher interest rates generally reduce the attraction of non-interest-bearing assets such as gold and silver. Investors will now closely watch US inflation data and the Federal Reserve’s upcoming policy meeting for further direction in bullion markets.
Leave A Comment