Gold prices plunged by ₹ 3,900 to ₹ 1,25,800 per 10 grams in the national capital on Tuesday, tracking a decline in global rates amid fading expectations of an interest rate cut by the US Federal Reserve next month.

The precious metal of 99.5% purity tanked by ₹ 3,900 to ₹ 1,25,200 per 10 grams (inclusive of all taxes), according to the All India Sarafa Association.

Silver prices were also under pressure as the white metal tumbled by ₹ 7,800 to ₹ 1,56,000 per kilogram (inclusive of all taxes).

Gold and silver experience steep selloffs, as investors wait for hints on the Federal Reserve's policy course from a succession of US economic data releases this week, amid waning hopes for a US interest rate cut.

"A rate cut in December has become less likely due to the absence of US

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