Gold and silver prices continued to skid in India, tracking a global selloff in precious metals. In the previous session, gold and silver had plunged about ₹1,000 and ₹2,000 respectively. 10-year Treasury yields, hurting gold's appeal as an inflation hedge. Meanwhile, Treasury yields are moving higher as traders bet that Fed would cut its asset purchase program in 2021. That is also bearish sign for silver price," CapitalVia Investment Advisor said in a report.

Source: Mint August 09, 2021 03:40 UTC