Bullion futures drop ahead of Fed policy outcome

Gold and silver prices declined in the futures trade as investors booked profits and adopted a cautious stance ahead of the outcome of the US Federal Reserve’s policy meeting. The yellow metal futures for February delivery declined by Rs 718, or 0.55 per cent, to Rs 1,29,244 per 10 grams in a business turnover of 13,208 lots. Silver futures also extended its losses for the second straight session.

The white metal for the March 2026 contract plunged by Rs 1,042, or 0.46 per cent, to Rs 1,80,700 per kilogram in 13,823 lots. Silver had hit its record of Rs 1,85,234 per kg on Friday.

“Gold and silver witnessed mild profit-taking as traders awaited the FOMC meeting and a rebound in US Treasury bond yields,” Rahul Kalantri, VP Commodities at Mehta Equities Ltd, said.