Silver cracks Rs 6,300/kg; gold dips Rs 1,600/10 gm as traders fear Fed rate hike this year. Should you sell?

Gold and silver prices fell sharply on MCX after the US Federal Reserve signalled a possible interest rate hike later this year while keeping rates unchanged. Higher rate expectations pressured precious metals despite easing oil prices. Analysts advised booking profits in existing long positions and waiting for fresh entry levels.