Bullion futures slide as Fed rate cut bets wane

Gold and silver prices fell sharply in futures trade, extending their losing streak for the third consecutive day as fading hopes of a interest rate cut by the US Federal Reserve in December weighed on the investor sentiment.

Gold futures for December contract plunged Rs 1,807, or 1.47 per cent, to Rs 1,21,120 per 10 grams. Similarly, the February 2026 contract slumped by Rs 1,833, or 1.47 per cent, to Rs 1,22,841 per 10 grams.

Silver futures also followed suit, with the December contract plummeting by Rs 3,660, or 2.36 per cent, to Rs 1,51,652 per kilogram while the March 2026 contract tanked by Rs 3,368, or 2.13 per cent, to Rs 1,54,557 per kg.