Gold, silver tumble on MCX as traders await Fed meeting
In short
Gold and silver fell sharply on the MCX on Thursday. Gold was down Rs 2,000 per 10 grams and silver fell Rs 5,700 per kg.
Traders are waiting for the US Federal Reserve meeting and inflation data. The source does not say how long prices may stay weak.
What the reporting says
Gold and silver prices fell sharply on the MCX on Thursday, with gold down Rs 2,000 per 10 grams and silver down Rs 5,700 per kg. The publisher summary says investors are tracking the upcoming US Federal Reserve policy meeting and inflation data, while some analysts advise gradual accumulation for long-term buyers. The source does not say whether the moves are tied to a single catalyst or how long the weakness may last.
Why it matters
Gold and silver dropped sharply on the MCX on Thursday, with the summary citing a fall of Rs 2,000 per 10 grams in gold and Rs 5,700 per kg in silver. Investors are watching the US Federal Reserve’s upcoming meeting and inflation data for clues on rates and metals demand. The report adds that some analysts still favor gradual accumulation for long-term investors, but the immediate tone is weak.