Gold Price Today Drops Sharply to Rs 51,306; Will Yellow Metal Fall Further this Week?
News 18Gold price in India fall sharply on Monday, following global cues. Analysts now expect that the US Federal Reserve may aggressively increase the interest rates in the coming months to tame the inflation.”Comex gold prices advanced more than 1 per cent on Friday amid risk aversion in global markets and on higher-than-expected inflation data,” said ICICI Direct in a note. “International spot and COMEX gold prices have started weaker this early Monday morning in Asian trade tracking the strength of the dollar and strengthening bond yields which continued to move higher supported by an aggressive Federal Reserve approach to combating inflation. “Domestic gold futures prices could start weaker this early Monday morning, tracking a weak start in the overseas markets. Silver Price Outlook “International spot and COMEX silver prices have started weaker on Monday morning in Asian trade weighed down by a stronger dollar and bond yields.