Commodities
Gold Prices Decline Amid Fed Uncertainty, Strong Dollar
The Indian gold market was subdued on September 16 due to uncertainty surrounding the US Federal Reserve's decision. The stronger US dollar and higher crude oil prices also put downward pressure on gold prices.
According to MCX data, the October futures for gold were trading at ₹1,50,723 per 10 grams, a decline of 0.06% from the previous day. Spot gold rates in key Indian cities such as Delhi, Mumbai, Chennai, Kolkata, Bengaluru, and Hyderabad also followed suit.
For silver, MCX data showed the October/nearby futures at ₹2,32,036 per kg, a marginal increase of 0.04% from the previous session. The spot silver rates in major cities were similarly affected.