Kg As Rate Hike Bets Us Iran Tensions Dent Mood Time To Sell Precious Metals
Economic Times
Gold and silver prices tumbled on Wednesday as fading hopes for a U.S.-Iran peace deal fueled inflation worries and bolstered expectations of sustained high interest rates from the Federal Reserve.
MCX silver futures saw a significant drop, while gold futures also declined. Analysts advise caution, suggesting investors await the Federal Reserve Chair's speech before making new moves in the volatile precious metals market.
Gold and silver prices are likely to remain volatile this week due to fluctuations in crude oil prices, movement in the dollar index, ahead of the U.S. Federal Reserve Chair's speech and the U.S. non-farm payroll data.
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