Gold and silver prices fell on Wednesday, extending their sharp decline in the previous session. On Multi Commodity Exchange of India, February gold futures fell 0.42% or ₹169 to ₹40,073 per 10 gram. In the previous session, gold had declined 0.85%.
Silver futures today on MCX fell 0.32% to ₹45,329 per kg, after slumping over 3% in the previous session. Apart from the coronavirus panic, a stronger rupee also pushed gold prices lower. Gold traders are looking out for the monetary policy announcement by the US Federal Reserve.