Gold slips 0.6% to $4,154.78 as dollar and yields weigh
Gold fell 0.6% to $4,154.78 an ounce, heading for a second weekly decline as a stronger US dollar and elevated Treasury yields pressured bullion.
Gold Market
Gold fell 0.6% to $4,154.78 an ounce, heading for a second weekly decline as a stronger US dollar and elevated Treasury yields pressured bullion.
Gold futures on the MCX gained 0.99% to ₹1,50,511 per 10 grams on Thursday, supported by fresh positions and firm spot demand. International prices also moved higher.
Gold and silver prices dropped sharply on MCX as higher oil prices revived inflation concerns and boosted expectations of further US Federal Reserve rate hikes. Rising bond yields and a firm dollar added to the pressure.
Gold futures on MCX fell Rs 3,214 per 10 grams and silver dropped Rs 6,661/kg as rising oil prices revived inflation concerns and expectations of further US rate hikes.
October gold futures on the MCX slipped ₹171 to ₹1,51,128 per 10 grams on weak spot demand. Global contracts in New York also eased, down 0.25 per cent to $4,277 an ounce.
Gold gave up Rs 1,900 per 10 grams on MCX over three sessions while silver gained Rs 1,400 per kg. Inflation expectations and rate-hike worries are keeping the metals volatile.
Gold and silver snapped a two-day rally on the MCX, with gold down Rs 1,331 per 10 grams and silver down Rs 1,600 per kg amid US-Iran tensions and central bank rate hikes.
Gold fell Rs 800 per 10 grams on the MCX while silver gained Rs 1,000 per kg, supported by a subdued dollar and weaker crude oil prices amid global interest rate uncertainty.
MCX gold and silver futures saw mixed moves in early trade on 18 September as a drop in crude oil prices and a steady dollar offered support, while US-Iran tensions kept caution alive.