Gold Futures Fall on Rate Hike Concerns and Strong Dollar

Gold futures on the Multi Commodity Exchange (MCX) slipped Rs 832 to Rs 1.53 lakh per 10 grams due to rate-hike concerns and a strong US dollar.

The October delivery of gold futures traded lower by 0.54% after last week's gain of 1.04%, where the yellow metal ended at Rs 1.54 lakh per 10 gram.

Ashish Rajodiya, Head of Commodities at PL Capital, said that the dollar index holding above the 100-mark following last week's rate hike is contributing to the decline in gold prices.