Gold plunges Rs 5,000/10 gram, silver tanks Rs 8,700/kg. 2 reasons for yellow metal’s sharpest intraday slide

Gold and silver prices saw a significant drop on Friday. This decline was driven by hawkish remarks from U.S. Federal Reserve officials, impacting expectations for a December rate cut. Additionally, the conclusion of the U.S. government shutdown reduced the safe-haven appeal of gold. Experts suggest this weakness in bullion may continue in the near term.