This fall in the prices of precious metals in February is the worst monthly fall since October.
Precious metal prices have been falling for some time now, with the price of gold having receded around 2 percent since the beginning of February.
The yellow metal finished the week gone by in the red. Even silver witnessed a 5 percent drop in prices in February alone.
This fall in the prices of precious metals in February is the worst monthly fall since October.
The negative sentiment in the precious metals market at the moment stems from the hawkish comments of newly-appointed US Federal Reserve Chair Jerome Powell.
The dollar has gained nearly 2 percent in the month gone by, thereby weighing on precious metal prices.
All said, demand for gold is likely to go up in the next few months as the wedding season in India will see people flocking to stores for new jewellery and ornaments.
The Chinese are also expected to add to the demand for gold after they return from the lunar new year holidays.
