Hyderabad, June 20 -- Gold rates slipped in Hyderabad after the US Federal Reserve kept interest rates unchanged.

The rates of 24-carat and 22-carat yellow metal declined by Rs 600 and Rs 550 in just one day.

Reasons for dip

US Fed Chair Jerome Powell noted the central bank expects an increase in inflation in the coming months amidst tariffs and other factors, reinforcing a cautious policy stance.

Meanwhile, there is still no resolution in the Israel and Iran conflict, and the war-like situation continues; however, expectations of an ease-off are weighing on prices.

Gold and silver prices slid from recent highs and reached around one-week lows.

Silver prices fell below USD 35.70 per ounce after a sharp rally earlier in the week. The...