Gold Prices Drop 0.27% Amid Stronger US Dollar and Higher Bond Yields

The price of gold on MCX declined by 0.27% to Rs. 1,54,468 on August 13 due to a stronger US dollar and higher bond yields.

Despite easing US inflation data for July, which reduced expectations of a rate hike by the Federal Reserve in September, gold prices fell. August gold futures dropped 0.27% to Rs. 1,54,468, while September silver futures declined 0.5% to Rs. 2,36,655.

Brent crude futures fell 0.57% to $88.47 per barrel, and US West Texas Intermediate (WTI) edged lower by 0.76% to $82.66 per barrel.