On MCX, gold futures were down 1% to ₹48,400 per 10 gram, extending losses to the second session.
In global markets, gold prices were down 0.6% today to $1,864.58 per ounce, its lowest in more than one week.
Gold is likely to be on weaker side today with support seen at $1855, says domestic brokerage Geojit.
On silver, Geojit said, “inability to cross the immediate upside obstacle of $28.50, there are chances of selling pressure to continue towards $26.80 initially.
However, Fed officials have repeatedly said that inflation would be transitory and expect monetary stimulus would stay in place for some time.