New Delhi:- Gold and silver prices have fallen sharply in international markets due to the US Federal Reserve postponing interest rate cuts and the strengthening of the dollar index. Gold prices from New York to Mumbai fell suddenly. Gold fell by more than Rs 1,900 in just an hour. Gold prices in overseas markets also fell by about $ 66 per ounce, while silver fell by more than Rs 4,000.
Gold prices have also fallen on India's futures market, MCX. In morning trade, gold fell by Rs 1,719 to Rs 1,21,208 per 10 grams. It further fell to Rs 1,21,000 during trading. This is the third consecutive day when gold prices have fallen by more than Rs 5,700 so far. Gold has fallen by more than Rs 11,000 from its all-time high.
Silver prices also witnessed a sharp decline. Silver fell by more than Rs 3,600 to Rs 1,51,694 on MCX, while it fell to Rs 1,51,250 during intraday trading. Silver has fallen by more than Rs 11,000 in three days. Its price has fallen by Rs 19,000 from its all-time high last month.