Gold, Silver Prices Drop: 5 Key Reasons Behind the Decline

• Gold and silver prices in India declined on Monday, February 16, influenced by international market weakness and investor caution.
• April delivery gold futures fell by 0.38% to Rs 1.55 lakh per 10 grams on MCX, while March delivery silver dropped 1.50% to Rs 2.40 lakh per kilogram.
• The fall is attributed to an adjustment after last week's rally, low trading volume due to holidays, and profit booking by investors.
• Markets are now awaiting US Personal Consumption Expenditure (PCE) data and FOMC meeting proceedings for future direction.
• Strong physical gold demand in China contrasts with sluggish domestic silver demand in India, impacting prices.