Spot gold $3,894.89 near year low amid Fed tightening talk
Business
Gold and silver prices saw a small bump after last week's drop, with spot gold rising to $3,894.89 per ounce and US gold futures just barely higher.
Still, gold is hanging around its lowest level in a year as inflation worries and talk of tighter US monetary policy keep investors cautious.
India gold down ₹3,200 to ₹142,000
A possible US Federal Reserve interest-rate hike in December is making gold less appealing since it doesn't pay interest.
There's now a 75% chance of that hike, according to market trackers.
The impact is global: in India, gold dropped by ₹3,200 to ₹142,000 per 10gm and silver slid by ₹4,200 to ₹186,000 per kilogram this week.
So if you're following precious metals or thinking about investing in them, it's definitely a tense moment!