News Cubic Studio

Truth and Reality

Gold fell to one and a half thousand, silver around Rs 2,800

After the statement of the US Federal Reserve, the prices of gold and silver also collapsed at the domestic level under the pressure of tremendous fall in both the precious metals abroad. In the MCX futures market, gold fell by Rs 1,480, or 3.05 per cent, to Rs 47,026 per 10 grams. Gold Mini also declined by Rs 1,375 to Rs 46,904 per 10 grams. Silver was sold at Rs 68,673 per kg, down by Rs 2,795 or 3.91 per cent. Silver Mini also declined by Rs 2,542 and was quoted at Rs 68,964 per kg.
The Fed’s statement has expressed the possibility of increasing policy interest rates by 0.6 percent by the year 2023. Due to this, investors put money in the capital market of gold, considered a safe investment, due to which the yellow metal came under pressure.

In the international market, spot gold fell by $ 40.70 to $ 1,778.25 an ounce. Earlier on Wednesday also there was a huge fall in it. US gold futures for August also fell by $ 81 to $ 1,780.40 an ounce. Silver spot shone by $ 0.88 and sold at $ 26.35 an ounce.