The broader markets traded lower with mid-caps and small-caps shedding 0.3-0.5 per cent on the BSE.
Silver also dropped by Rs 800 to Rs 40,600 per kg on reduced offtake by industrial units and coin makers.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Gold in Singapore, which normally sets the price trend on the domestic front, fell by 1.4 per cent to $1,278.94 an ounce and silver by 2.8 per cent to $19.55 an ounce.
Traders said persistent selling by stockists in line with a weakening global trend after Federal Reserve Chairman Ben Bernanke signalled that the central bank may start curbing stimulus programme this year, mainly dragged gold and silver prices down.
The rupee fell to a record low of 59.9350 to the dollar, breaching past its all-time low of 58.98 on June 11.
Indian markets too saw a deep fall as a result of the Federal Reserve's shift in policy and the Nifty and Sensex ended down more then 2.5 per cent in the negative, whereas the Europe is trading in red too.
The BSE Sensex rose on Wednesday to mark a record close as telecom firms such as Bharti Airtel surged on better-than-expected operating performance, while continued strong foreign flows also boosted sentiment.
Weakness in the dollar against some currencies supported the rupee.
So far in 2019, India has been one of the highest recipients of foreign flows among Asian and Emerging Market (EM) economies
Be careful while investing at the current levels and stay away from stocks of leveraged companies.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances