MCX gold prices rise Rs 600/10 grams; silver jumps Rs 3,000/kg ahead of Diwali, but rate hike bets linger. What should you do?
Gold and silver futures opened higher on the MCX ahead of Diwali. December silver futures rose Rs 2,800 to Rs 1,81,925 per kg, while gold futures gained Rs 613 to Rs 1,39,098 per 10 grams. However, persistent inflation concerns and calls by three US Federal Reserve officials for further rate hikes could limit gains in the non-yielding precious metals. The Fed had left interest rates unchanged at its previous policy meeting.
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