Commodities
Fed Hawkishness Weighs on Gold, Silver Amid Geopolitical Risks
Gold prices declined by 0.93% to ₹151,299 due to a stronger dollar and hawkish comments from US Federal Reserve officials.
The Fed raised its benchmark interest rate by 25 basis points to 3.75%-4%, indicating another hike could come before year-end, with markets pricing a 53% probability of an October rate increase.
Despite the near-term pressure, Standard Chartered said gold continues to receive firm support from official-sector demand and structural factors, although the pace of appreciation may slow.