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videos | IST

Commodities round-up: Precious metals decline post US Fed policy decision

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The biggest reaction seen from the US Fed meeting, on December 15, comes in for precious metal prices.

The biggest reaction seen from the US Fed meeting, on December 15, comes in for precious metal prices.
The Fed said that they will double the pace of taper to USD 30 billion a month and the dollar index, in reaction to that, is trading at a 16-month high and that had an impact on precious metal prices as silver trading below USD 22 per ounce, it's a 10 week low for that and gold prices also have slipped to a nine-week low, and not just that, platinum trading at a 12-month low, palladium trading at a 20-month low as well.
Before 2021 ends, the other central bank meetings are from Europe, England and Japan. It would be interesting to see what these central banks do; would they follow the US Fed because that will set the direction for gold and silver prices.
As of now, it seems like 2021 will be closed in negative for gold which is down nearly 6 percent and silver down 16 percent.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.