Gold prices climbed above $4,200 in early trading on Monday, October 12, supported by easing energy costs and robust investment demand. However, gains were limited by rising Treasury yields and expectations of further interest rate hikes by the Federal Reserve. US gold futures edged up 0.42% to $4,234 per ounce, while MCX gold futures for December delivery dropped 0.46% to Rs 1,50,800 per 10 grams.
Silver prices remained steady at Rs 2,25,509 per kilogram. Domestic spot gold closed the previous Friday at Rs 1,48,909 per 10 grams, with silver at Rs 2,21,191 per kilogram. Investors are now eyeing the upcoming US Consumer Price Index (CPI) data, which will influence expectations about the Fed's rate policy.
The market's focus this week is on the US CPI data, anticipated to heavily impact the Fed's interest rate decisions. Gold and silver prices have seen mixed movements, reflecting the delicate balance between investment demand and economic pressures.