Gold holds near ₹1.43 lakh as Fed begins 2-day meeting
Gold prices held firm near ₹1.43 lakh on Tuesday, just as the US Federal Reserve started its two-day policy meeting.
While gold barely budged, down only 0.12% on MCX and about 0.20% on global markets; silver took a bigger hit, dropping 1% to around $53.80, near its weakest level in 11 months.
US yields tied to gold drop
Last week's sharp drop in gold (over 4%) was tied to rising US Treasury yields, which make holding gold pricier.
Most investors think the Fed will keep interest rates steady for now but might hike them again in December.
Meanwhile, the Indian rupee kept sliding for a third day, making imported silver a bit less painful locally even as global prices fell; MCX silver slipped by 0.68% to ₹194,470.
The gold-silver ratio stayed stable at around 74.8-to-1, showing gold is still holding its ground better than silver right now.