Precious metals slide in tune with US equities, Silver melts more than 3%

Precious metals drifted lower sharply today, giving up after recent gains. MCX Gold has lost around 1.91% to trade at Rs 142899 per 10 grams as a sustained selloff after opening lower extended. Silver melted 3.36% to trade at Rs 219370 per kg with a moderate jump in open interest. US equities fell heavily. DOW has lost around 1% while S&P index melted 1.40%.

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