Gold Prices has seen the lowest weekly downfall on Tuesday since November 2015. The downfall is due to the Federal reserve of U.S monetary policy announcement.

The most sensitive matter the entire world gets affected with the rise or fall In the prices of Gold. When it comes to a major decision like the monetary policies announcement almost all the countries in the world take this factor into consideration. The recent effect of fall in the prices of Gold had witnessed the same.

The U.S dollar got firm ahead of the Federal Reserve chair person Mr.Janet Yellen’s speech, who will be announcing the country’s monetary policy. He is expected to make his statement in just a couple of minutes from now. That is at 04.20 Indian Time.

At present, the high-interest rates lift the opportunity cost of holding non-yielding bullion while boosting the dollar.

3 percent decrease in Gold prices was observed compared to the last week. Today’s morning witnessed Spot gold was down by 0.2 percent at dollar 1,217.96 an ounce which resembled a one-month low on Monday at dollar 1,208.15 an ounce. U.S. gold futures for April delivery were down $2.00 an ounce at $1,218.10.

The positive impact that occurred is that the shares of the European countries were on the rise and the dollar also strengthened by 0.1 percent against few country’s currencies.

The world’s biggest bullion consumer – China’s net gold imports from Hong Kong witnessed a rise in February after a 17-month low profile in the previous month. But the U.S, in contrast, has dropped the Gold rates. The FED has to balance the share market and the gold with its policies as the effect would be dangerous on the World economy.

On the other hand, Precious metals like Silver prices were dropped by 0.6 percent at dollar 15.12 an ounce, and palladium was down 0.2 percent at dollar 566.47 an ounce while alone platinum prices were hiked by 0.9 percent at $950 an ounce.