Gold, silver prices fall on MCX: Why precious metals are under pressure today - CNBC TV18

AI desk brief

Gold and silver weakened on MCX as traders digested the Fed’s latest hold and looked ahead to US PCE inflation for the next policy signal. December gold fell 0.28% to ₹1.43 lakh/10g, while December silver dropped 1.18% to ₹1.92 lakh/kg, with silver underperforming on higher volatility and industrial-demand sensitivity.

The move reflects lingering uncertainty over US rates after the Fed kept policy unchanged at 3.75%-4.00% but saw two officials favor a hike, keeping tightening risk alive. Traders are now focused on PCE, along with the US dollar and Treasury yields, as the main drivers for the next leg in non-yielding metals; local retail demand is still expected to hold up into the festive and wedding season, according to MMTC-PAMP.