Gold and silver are likely to experience selling pressure this week as traders focus on the ongoing peace talks between the United States and Iran, alongside the Federal Reserve's upcoming policy decision. Gold futures closed at ₹1.54 lakh per 10 grams after a drop of ₹1,910 (1.23%), while silver fell to ₹2.44 lakh per kilogram, down ₹12,506 (4.9%). Analysts highlight that the April 29 Federal Open Market Committee (FOMC) meeting, chaired by Jerome Powell, is significant for precious metals prices. In international markets, gold decreased by $138.7 (2.8%) to $4,740.9 per ounce, and silver declined by $5.4 (6.6%) to $76.41 per ounce. The recent price drops are attributed to profit-booking after a substantial rise in previous weeks, alongside a stronger US dollar and firm Treasury yields. Analysts suggest that gold may find support at lower levels but could face further corrections if the dollar remains strong and geopolitical tensions ease. Silver's volatility is expected to continue due to its dual role as a precious and industrial metal.