Gold rate falls nearly 1% on MCX as a stronger dollar amid US Fed rate hike expectations spurs profit booking

Gold and silver futures fell sharply on MCX on Tuesday as a stronger dollar above 100 and expectations of a US Federal Reserve rate hike triggered profit booking in precious metals. MCX gold August futures dropped 1.05% to ₹1,46,566 per 10 grams, while MCX silver July futures declined 2.85% to ₹2,27,622 per kg.