Gold and silver prices continued to fall in India on Tuesday (November 18), marking a third consecutive session of losses as expectations of a US Federal Reserve rate cut in December weakened sharply.

On the Multi Commodity Exchange (MCX), gold futures (December) dropped ₹1,807 (1.47%) to ₹1.21 lakh per 10 grams. The February 2026 contract fell by a similar margin to ₹1.22 lakh per 10 grams.

Silver futures (December) declined ₹3,660 (2.36%) to ₹1.51 lakh per kg, while the March 2026 contract slid to ₹1.54 lakh per kg.

Analysts attributed the decline to fading rate-cut bets and a stronger US dollar.

“Gold and silver extended losses as expectations of a December US rate cut continued to diminish. With no major positive triggers, bulls remain hesitant at these elevated price levels,” said

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