Gold futures dip to ₹1,51,128 per 10 grams on weak demand
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 Market
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.
Gold and silver prices dropped sharply on the MCX on Thursday after the US Federal Reserve raised interest rates and signalled further tightening. Easing oil supply concerns added to the pressure.
Gold and silver prices rose in domestic markets on Wednesday, with MCX gold futures gaining Rs 1,300 per 10 grams and silver climbing Rs 4,000 per kg ahead of the US Fed decision.
Gold and silver prices declined for a second day on the MCX as traders assessed Middle East tensions, rising crude oil, and a 60% chance of a Fed rate hike. US inflation data is the next focus.
Gold and silver prices rose for a second straight session on MCX as the US dollar weakened and bond yields eased. Investors now await US nonfarm payrolls data.