Gold falls 0.55% to ₹155,090 and silver drops 1%
Business
Gold and silver prices slipped on Tuesday morning, with gold futures down 0.55% to ₹155,090 per 10gm and silver dropping 1% to ₹235,655 per kilo on the MCX.
The main reasons? Rising oil prices are making everything more expensive, and investors are anxious about possible US interest rate hikes.
Markets await Fed minutes, inflation data
Everyone's waiting for the US Federal Reserve's July meeting minutes (out Wednesday) and fresh inflation data before the big Fed meeting next month.
High oil prices (thanks to tensions in the Middle East) are fueling worries about inflation and more rate hikes.
Analysts say gold could bounce between ₹155,000 and ₹157,700 while silver might move between ₹233,300 and ₹242,400 as traders keep a close eye on global events.