Gold Declines ₹2,600 to ₹1.5 Lakh/10g; Silver Tumbles ₹5,000 to ₹2.32 Lakh a Kg
Silver futures fell 5.1% and gold dropped more than 3% as higher Treasury yields and a stronger dollar pressured precious metals.
7 Articles
7 Articles
Sawalev's price of precious metals declined sharply during today's Monday trades, with gold falling by about 3% to levels close to US$ 4,165 per ounce, while silver fell by 5%. The instant circulation data show that gold touched levels close to US$ 157.4 per ounce, down by 3%, while silver declined to about US$ 61.08 per ounce, down by about 5.02%.
The price of gold declined during Monday's dealings, reaching its lowest level in seven weeks, with oil rising, which reinforced fears about inflation and supported market expectations about the Fed's tendency to continue raising interest rates. Tim Waterer, the leading market analyst of .K.M.C. Want, for Reuters, said that the rise in oil and the return of American bonds [...] was a drop in gold prices by more than 3%.
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