Gold Prices Drop Amid Middle East Tensions and Stronger Dollar

Gold and silver prices fell on September 14 due to escalating Middle East tensions, rising oil prices, and a stronger US dollar. The Comex gold futures dropped by 0.94% to $4,389.30 per ounce, while the domestic MCX gold futures for the October contract closed lower by 0.08% at Rs 1,52,655 per 10 grams.

The silver prices also declined by 0.94% to $64.57 per ounce, and the domestic spot gold price closed at Rs 1,51,549 per 10 grams on MCX. The strong US CPI in August weighed on bullion ahead of the Fed's policy meeting this month.

The Middle East tensions and rising oil prices continued to put pressure on the gold prices, making it a challenging time for investors.