Silver cracks Rs 6,300/kg; gold dips Rs 1,600/10 gm as traders fear Fed rate hike this year. Should you sell?

Domestic gold and silver futures declined sharply as traders priced in the possibility of a US Fed rate hike later this year. MCX silver for July 2026 delivery fell 2.5 percent or about Rs 6,298 to Rs 2,45,509 per kg, while gold futures for August 2026 delivery dropped Rs 1,600 to Rs 1,52,304 per 10 grams. The sell-off came after Fed projections showed nine of 19 policymakers expecting a rate increase, even as the policy rate was held at 3.50-3.75 percent.