Gold prices fall Rs 1,000/10 gram; silver down Rs 3,000/kg ahead of US Fed minutes. Key levels to track

Gold and silver prices weakened on the MCX and in global spot markets as traders awaited the U.S. Federal Reserve minutes for clues on the policy path. MCX gold for August 2026 fell Rs 960 to Rs 1,45,958 per 10 grams, while MCX silver for September 2026 dropped Rs 2,913, or 1.2%, to Rs 2,33,186 per kg. Internationally, spot gold slipped 0.6% to $4,138.32 an ounce and spot silver fell 1% to $61.48. The pullback extends recent losses after bullion had briefly hit a two-week high on Monday. Market expectations for a September rate hike eased to about 56% from above 60% after weaker U.S. jobs data, but the upcoming Fed minutes and policy commentary remain the key catalyst. Analysts still see buy-on-dips opportunities, though with tight stop-loss levels, and cite support/resistance zones around current price levels.