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Gold and silver rise on MCX as dollar eases
MCX August gold futures rose 0.30% to ₹1,41,322 per 10 grams, while September silver climbed 1.38% to ₹2,19,400 per kg around 9:15 am.
Gold and silver prices moved higher on India’s MCX in early trading on Monday, July 20, with buying attributed to a slightly softer US dollar, according to LiveMint Markets.
MCX gold August futures were up 0.30% at ₹1,41,322 per 10 grams around 9:15 am, while MCX silver September contracts increased 1.38% to ₹2,19,400 per kg.
The article also linked the broader backdrop to firmer crude oil prices above $90 per barrel amid escalating Middle East tensions, which are seen as supporting inflation concerns and expectations of additional US Federal Reserve rate hikes this year.
It cited Reuters, saying the CME FedWatch Tool shows markets pricing an 82% chance of a December interest rate hike, up from 73% last week, while the dollar index eased to 100.71 after hitting 100.87 earlier.
Latest closeGold $3,981.40 ▼1.6%|Silver $55.72 ▼2.4%|WTI crude $79.00 ▼0.8%