Gold Prices Bounce Back Amid Volatility
Gold and silver prices continued to fluctuate on September 22, following a sharp correction in the previous session. The Multi Commodity Exchange (MCX) saw gold futures trading at Rs 1,53,237 per 10 grams, up marginally from the previous day's close. Silver futures were trading around Rs 2,39,743 per kg.
Retail gold prices remained elevated, with standard 22-carat gold quoted at around Rs 1,40,090 per 10 grams and 24-carat gold at Rs 1,52,940 per 10 grams. In Mumbai, 24-carat gold was quoted at around Rs 1,53,353 per 10 grams.
The correction in precious metals was linked to rising US Treasury yields and changing expectations around US monetary policy. Analysts expect gold to remain volatile as investors track US monetary policy, Treasury yields, the dollar, and geopolitical developments.