Gold, Silver Prices Today Live Updates: Silver, gold futures tumble 10%; investors cautious amid strong dollar, Fed jitters

In a dramatic shift, the futures market for precious metals experienced a significant downturn today, with both gold and silver prices plummeting. Gold futures have seen a 3% decline, now priced at Rs 1.6 lakh per 10 grams. This drop reflects growing investor caution amid global economic uncertainties and the strengthening of the US dollar, which often inversely affects commodity prices. Silver prices have taken an even steeper dive, tumbling 10% to Rs 2.68 lakh per kilogram. The substantial decrease in silver's value highlights investor apprehension as conversations around potential interest rate hikes by the Federal Reserve continue to circulate. Such policy changes could reduce the appeal of non-yielding assets like precious metals, prompting a shift in investment strategies. Market analysts suggest that the current volatility is largely driven by the Fed's anticipated moves to curb inflation, which could further bolster the dollar. As the dollar gains strength, gold and silver, typically seen as safe-haven assets, may continue to face downward pressure. Investors are advised to stay vigilant, as the global economic landscape remains unpredictable.

— Authored by Next24 Live