Gold, silver prices fall on weak global cues
Dollar has strengthened last night ahead of a US Federal Reserve meet
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Gold and silver prices on the domestic market have witnessed a fall in early trade on the back of fall on international markets last night as the dollar strengthened ahead of a US Federal Reserve meet. The meeting is expected to take place later this week.
On MCX, gold is currently down by 1% at Rs 26,032 per 10 grams and silver is down by 2.6% to Rs 37,287 per kilogram.
Globally, gold fell by 2.45% to $1,192.2 per ounce.
The markets expect Fed to increase interest rates this week, which has caused the dollar to rise. Silver prices on the international markets saw a fall of 5% due to dollar pressure coupled with fall in base metal prices as well.
Silver on international markets fell to $16.1 per ounce.
On MCX, gold is currently down by 1% at Rs 26,032 per 10 grams and silver is down by 2.6% to Rs 37,287 per kilogram.
Globally, gold fell by 2.45% to $1,192.2 per ounce.
The markets expect Fed to increase interest rates this week, which has caused the dollar to rise. Silver prices on the international markets saw a fall of 5% due to dollar pressure coupled with fall in base metal prices as well.
Silver on international markets fell to $16.1 per ounce.
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First Published: Dec 16 2014 | 1:12 PM IST