Gold prices fall Rs 2,000/10 gram, silver dips Rs 4,600/kg as US Fed hikes rate after 3 years. Time to sel - The Economic Times

AI desk brief

Gold and silver fell on the MCX after the US Federal Reserve raised rates and flagged further tightening, with gold down Rs 2,000 per 10g and silver off Rs 4,600/kg. The article says higher rates and easing oil-supply concerns pressured bullion sentiment, while traders were given support/resistance levels of $4,335-$4,284 and $4,400-$4,444 for gold, and $63.40-$62.50 and $65.80-$67.00 for silver.

Internationally, spot gold was up 1.1% at $4,310.49 after touching a near six-week low in the prior session, while December gold futures fell about 1% to $4,348.70. Spot silver rose 1.4% to $63.83/oz, platinum gained 1.6% to $1,780.55 and palladium climbed 2% to $1,295.00; one analyst said long-term investors can accumulate on dips, but traders should wait for the BOJ policy meeting before taking fresh positions.