Gold and silver prices tumbled on MCX after the US Fed’s 25 bps rate cut, with gold down 1.51% and silver 0.97%. Caution over future rate cuts and easing safe-haven demand weighed on prices.

Mumbai: Gold and silver prices opened sharply lower on Thursday on the Multi Commodity Exchange (MCX) after the US Federal Reserve announced a 25-basis points rate cut.

The decline in precious metal prices came as investors assessed the Fed’s cautious stance on future rate cuts. Gold futures on the MCX opened 1.27 per cent lower at Rs 1,19,125 per 10 grams, compared to the previous close of Rs 1,20,666.

Silver prices also dropped, opening 0.4 per cent lower at Rs 1,45,498 per kilogram, against the previous close of Rs 1,46,081. By 9:42 AM, gold prices had extended losses and were trading lower by R

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