2 min read.Updated: 03 Dec 2021, 10:11 AM ISTLivemint
Gold prices have corrected sharply in last few days on Fed’s monetary tightening expectations
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Gold prices in India today rebounded from one-month lows as futures on MCX rose 0.5% to ₹47,625 per 10 gram. On Thursday, gold prices fell 1% or about ₹500, tracking a fall in global markets. Silver futures edged higher to ₹61190 per kg. In global markets, gold rates edged lower today to $1,771.04 after hitting their lowest in a month. The precious metal was on track for for its third straight weekly drop after Federal Reserve officials signaled that the US central bank could end its pandemic-era asset purchases faster than expected to combat surging inflation. Gold rates in India had hit a record high of ₹56,200 in August last year.