Commodities
Gold Slumps on MCX as Silver Surges Ahead of Fed Decision
Gold prices on the Multi Commodity Exchange (MCX) fell to ₹1.41 lakh per 10 grams, down ₹243 from its previous trading level. In contrast, silver futures rose by ₹815 to reach ₹2.16 lakh per kg.
The divergence in precious metals comes as investors await the U.S. Federal Reserve's policy decision, which often influences global interest rate expectations and currency stability.
Market analysts note that gold faces pressure when interest rates are stable or expected to rise, as investors shift towards yield-bearing assets. Meanwhile, silver tends to be more volatile due to its dual status as both a precious metal and an industrial commodity.