: Thursday, October 30, 2025 10:53 AM
Mumbai . A sharp fall in gold and silver prices was recorded on the Multi Commodity Exchange on Thursday after the US Federal Reserve cut interest rates by 25 basis points. Fed Chairman Jerome Powell did not give any indication of cutting interest rates in the December meeting this time. Metal prices fell as investors assessed the Fed’s cautious stance on future interest rate cuts. Gold futures on MCX opened 1.27 percent lower at Rs 1,19,125 per gram as against the previous closing price of Rs 1,20,666 per 10 grams.
At the same time, silver prices also fell by 0.4 percent and opened at Rs 1,45,498 per kg as against the previous closing price of Rs 1,46,081 per kg.
By around 9:42 am, gold prices fell further and were trading at Rs 1,18,839 per 10 grams, down Rs 1,827 or 1.51 per cent. Silver also fell by Rs 1,411, or 0.97 per cent, to Rs 1,44,670 per kg.
There was a slight increase in gold prices due to a slight fall in the US dollar in the global market.
Spot gold rose 0.2 percent to $3,937.88 an ounce, while US gold futures for December delivery fell 1.2 percent to $3,950.70 an ounce.
The dollar index fell 0.2 percent after hitting a two-week high in the previous session, making gold cheaper for investors holding other currencies.
The US Federal Reserve announced a cut in interest rates last Wednesday, bringing the benchmark rates in the range of 3.75 percent to 4 percent.
Globally, investors are also keeping an eye on the developments happening between America and China. Investors are waiting for talks on trade deal between US President Donald Trump and Chinese President Xi Jinping.
“Profit booking was driven by Fed Chairman’s cautious stance on further easing. Additionally, optimism over upcoming US-China trade talks dampened safe-haven demand,” experts said.
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Web Title-Gold and silver prices fell on the MCX after the US Federal Reserve cut interest rates.
