A Oneindia Venture

Gold Rate Today Live Updates: MCX Gold Fall Rs 1,720, MCX Silver Crash Rs 3,500; 24K, 22K, 18K Gold Prices

Gold rates in India have extended their fall, with 10 grams of gold shedding nearly Rs 1,730. MCX gold is struggling to hold around Rs 121,500 mark. Precious metals were crushed after international prices takes a backseat on November 18. Comex gold has dropped to around $4,020 per ounce, recording its fourth straight decline. The price of 10 grams of gold price in India is down by over 1%. The MCX silver price nosedived by nearly 2%.

The start of the current week has been volatile and cautious for precious metals. This comes after MCX gold registered 2% growth last week and halted its three-weekly losing streak.

Gold Rate Today Live Updates: MCX Gold Falls, India's Gold Rates Crash

Yesterday, US Federal Reserve's vice chair Philip Jefferson hinted that the downside risks to employment have escalated to upside risks for inflation. Hence, he suggested that Fed to take cautious and slow approach towards rate cuts.

The latest Fed view comes against the market prediction of another rate cut in December policy. That being said, traders will watch out for the upcoming September jobs report scheduled on Thursday.

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