Gold and Silver Prices Decline on Strengthening Dollar Index

The price of gold and silver declined on September 24 due to the strengthening dollar index and expectations of another US interest-rate increase.

Spot gold fell by 0.02% to $4,286 per ounce, while MCX gold futures dropped 0.21% to Rs 1,50,980 per 10 grams.

Vikram Subburaj, CEO of Giottus, suggested that gold's decline is partly linked to contract rollovers, as traders reduce near-month exposure and shift towards the next contract.

Subburaj also noted that the rupee and 15% import tariff will cushion domestic prices from the full extent of an international decline, and recommended that investors stagger purchases rather than chase intraday reversals.