New Delhi, Sept. 14 -- Gold and silver prices crashed up to 2% in the evening session on Monday, 14 September, tracking weak global cues.

MCX gold October futures were down 1.19% at Rs.1,50,973 per 10 grams, while MCX silver December contracts were 1.70% down at Rs.231000 per kg around 5:15 PM. The commodity market was closed in the first half of the session due to Ganesh Chaturthi.

International gold prices were also down amid heightened concerns about a possible interest rate hike by the US Federal Reserve on Wednesday.

US gold futures for December delivery have crashed more than 2% in just two consecutive sessions to hit $4,317.95 per troy ounce after the US CPI data came above expectations, reinforcing concerns that the Fed may ste...