📉 MCX Silver Slips ~2%; Gold Also Falls on Strong US Jobs Data
Silver futures on the Multi-Commodity Exchange (MCX) dropped about 2% to ₹2.58 lakh/kg, while gold futures also declined amid strong U.S. jobs data that reduced expectations of near-term Federal Reserve interest-rate cuts — strengthening the dollar and pressuring precious metals.
Key Facts:
• Silver: MCX silver futures for March delivery fell as much as ₹4,288 (~1.6%) to ₹2,58,730/kg.
• Gold: Gold futures for April expiry dipped, with prices falling as much as ₹1,055 (~0.66%).
• Macro driver: A stronger U.S. job market dampened Fed rate-cut expectations, boosting the dollar and pressuring non-yielding assets like gold and silver.
Expert Insight:
Analysts say the metals market is watching upcoming U.S. inflation data closely, as further economic cues could swing expectations on interest rates and safe-haven demand.
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