Gold prices fall Rs 2,200/10 gms; silver tanks Rs 3,300/kg as rate hike fears outweigh falling oil prices. Key levels to watch

Gold and silver prices fell sharply, with MCX gold futures for August 2026 delivery dropping Rs 2,159 to Rs 1,44,370 per 10 grams and MCX silver futures for July 2026 delivery declining Rs 3,256 (1.4%) to Rs 2,22,578 per kg. The selloff was driven by rising expectations of three US Federal Reserve rate cuts this year, up from just one priced in earlier, and a stronger US dollar that made bullion more expensive for foreign buyers. Internationally, spot gold fell 1% to $4,067.51 per ounce while spot silver eased 0.9% to $61.44 per ounce.