Gold prices in India fall to a 7-month low today after the Fed hiked interest rates
Gold and silver prices in India fell today along with a fall in international prices. On MCX, gold futures were near 7-month lows of €49,321, down 0.25% while silver fell 0.4% €57,059 per kg. In global markets, spot gold fell 1% to $1,656.97 an ounce, buoyed by a strong dollar and firm bond yields after the US Federal Reserve hiked rates another 75 basis points overnight and announced more rate hikes. Two-year US Treasury yields, which closely track Fed interest rates, rose further over 4% to their highest level since 2007.