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Gold and silver slip on MCX ahead of US inflation data
MCX gold October futures were 0.0%3 lower at ₹1,53,710 per 10 grams and silver December futures fell 0.3%9 to ₹243,249 per kg as traders awaited US CPI and Fed signals.
Gold and silver prices were subdued in morning trade on the Multi Commodity Exchange, with investors focused on upcoming US inflation releases and the Federal Reserve policy decision later this month, LiveMint Markets reported on 10 September.
On the MCX, gold October futures were down 0.0%3 at ₹1,53,710 per 10 grams around 9:05 AM, while silver December futures fell 0.3%9 to ₹243,249 per kg.
Market attention is on US producer price index data due on the day and consumer inflation prints due on Friday, which are expected to provide cues on the Fed’s interest rate trajectory. Most experts cited by LiveMint Markets expect the Fed to keep rates on hold at its 15 to 16 September meeting.
Internationally, gold rose as the dollar weakened, with US gold futures for the December series up more than 0.5% to $4,464.20 per troy ounce and the dollar index easing 0.1%. Analysts also pointed to ongoing geopolitical tensions, saying US-Iran hostilities have kept investors cautious.
Latest closeGold $4,445.30 ▲1.2%|Silver $67.91 ▲2.4%|Dollar index 98.78 ▼0.1%