Commodities
Gold Falls as Traders Bet on US Rate Hike Amid Iran Tensions
Gold prices settled down 0.16% at Rs152,579 as traders increased bets on a possible U.S. interest-rate hike following stronger August job growth and persistent inflationary risks from renewed U.S.-Iran tensions.
The U.S. unemployment rate remained steady at 4.1%, while markets are pricing a 60% probability of a rate hike at next week's Federal Reserve meeting, according to CME FedWatch.
Attention now shifts to the U.S. producer price index due Thursday and consumer price index data scheduled for Friday, which could influence monetary-policy expectations and near-term gold direction.