Economy
Gold and Silver Prices Decline as Interest Rate Hike Fears Intensify
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THE BRIEF
1
Gold and silver prices on the MCX fell by up to 2% in the evening session on Monday due to negative global cues.
2
Market sentiment is impacted by an 89% probability of a US Federal Reserve rate hike on Wednesday, according to the CME FedWatch Tool.
3
High inflation data and climbing Brent crude prices, nearing $108 per barrel, are contributing to downward pressure on precious metals.