The gold price is falling today to the lowest level in almost 6 months, the silver price is falling
Gold and silver prices fell slightly today and continued their recent correction amid weak global signals. On the MCX, gold prices have fallen by 0.13% ₹45,928 per 10 grams, while the price of silver fell 1% to ₹59,427 per kg. In the previous session, gold was down 0.16% while silver was down 1.76%.
Gold prices fell slightly in global markets as a stronger US dollar dampened the attractiveness of safe investments. Investors were also cautious ahead of the Fed meeting later this week. Spot gold was down 0.1% to $ 1,752.66 an ounce
The dollar index hovered near the one-month high, reducing the attractiveness of gold for holders of other currencies.
Analysts expect the Fed to announce a schedule for reducing its monthly bond purchases at the start of its two-day meeting tomorrow.
Gold is often viewed as a hedge against inflation and currency depreciation, which are likely caused by widespread incentives. Among other precious metals, silver fell 0.3% to $ 22.33 an ounce, while platinum fell 0.1% to $ 940.39.
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