Gold Prices Decline on MCX Amid Rise in US Dollar and Brent Crude Oil

The price of gold on MCX declined by 0.27% to Rs. 1,54,468 on August 13 due to a rise in the US dollar and Brent crude oil prices. This decline was despite the easing of US inflation data for July, which had reduced expectations of a rate hike by the US Federal Reserve in September.

August gold futures fell 0.27% to Rs. 1,54,468, while September silver futures declined 0.5% to Rs. 2,36,655. Meanwhile, Brent crude oil prices fell 0.57% to $88.47 per barrel, and US West Texas Intermediate (WTI) edged lower by 0.76% to $82.66 per barrel.

Domestic gold prices saw a rise in 24K and 22K gold, with the former rising by Rs. 27 to Rs. 1,55,130 per 10 grams and the latter advancing by Rs. 25 to Rs. 1,42,200.