Huge fall in the prices of gold and silver! What will happen to investors, know the new prices immediately

Monday was a bit disappointing for those who invested money in gold and silver. In the country’s futures market, gold prices fell by more than Rs 200, while silver prices fell by more than Rs 2,400. Experts say that investors are being very cautious before the Fed policy meeting. The most surprising thing is that the dollar index declined, but still the prices of gold and silver did not increase. A 0.25 percent rate cut is expected from the Fed, due to which these prices may reach new record highs. Let us also tell you at what level gold and silver are currently trading in the futures market of the country?

fall in gold prices

There is a slight but clear decline in the price of gold on the country’s multi-commodity exchange. During the trading session, gold fell by Rs 229 to the day’s low of Rs 1,30,233. On Friday it closed at Rs 1,30,462. This morning gold opened at Rs 1,30,431. At 9.50 am, it is trading at Rs 1,30,417 per ten grams with a fall of Rs 45. Let us tell you, gold is trading around Rs 3,600 below its lifetime high of Rs 1,34,024.

Silver prices crashed

On the other hand, silver prices completely collapsed on the Multi Commodity Exchange. If we look at the data, silver fell by Rs 2,434 in the trading session to Rs 1,80,974. On Friday it closed at Rs 1,83,408. This morning silver opened at Rs 1,81,900. At 9.50 am it was trading at Rs 1,81,820 with a fall of Rs 1,588. The lifetime high of silver is Rs 1,85,234, and currently it is running about 2 percent lower.

Why the movement in gold and silver prices?

There is tremendous fluctuation in the prices of gold and silver before the meeting of the US Federal Open Market Committee (FOMC). The Central Bank will announce its policy on December 10 amid mixed macro data. According to CME’s FedWatch tool, traders see an 88.4 percent chance of a 25 basis points cut in interest rates on December 10.

Meanwhile, rate cut expectations jolted the US dollar. The dollar index was trading near its six-week low of 98.76, touched recently on December 4. Due to this, gold valued in dollars became cheaper in foreign currency.

Manoj Kumar Jain of Prithvifinmart Commodity Research told Mint that there is huge volatility in gold and silver ahead of the FOMC monetary policy meetings. US economic data was mixed last week, with the dollar index falling to a one-month low and the strong possibility of a Fed rate cut supporting prices.