Gold snaps 2-day losing streak; US Fed policy in focus
demand, according to the All India Sarafa Association. Besides, the US Federal Reserve, which starts its two-day monetary policy meeting on Tuesday, is expected to announce its interest rate decision, which could have an impact on the overall gold performance next year.
The precious metal of 99.9 per cent purity ended at Rs 78,350 per 10 grams on Monday.
However, silver extended its losses for the third straight day, declining Rs 1,000 to Rs 91,500 per kg against the previous close of Rs 92,500 per kg.
Meanwhile, the price of gold of 99.5 per cent purity jumped Rs 950 to Rs 78,900 per 10 grams on Tuesday. The yellow metal closed at Rs 77,950 per 10 grams in the previous trading session.
Traders said wedding season buying by jewellers reignited demand for the precious metal as a safe haven.
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