Commodities
Gold Prices End Week Slightly Lower Amid US Interest Rate Expectations
Global gold prices were volatile this week, ending slightly lower at $4,419 per ounce. The decline was largely driven by expectations of higher US interest rates and a stronger US dollar.
In India, gold prices initially fell but recovered to end the week close to their starting levels. Delhi 24K gold prices moved from Rs 151,940 per 10 grams on August 31 to Rs 150,310 on September 2, before recovering to around Rs 151,830 on September 4.
According to Enrich Money's CEO R Ponmudi, bullion initially found support from geopolitical uncertainty and weakness in the US dollar. However, the escalation in the US-Iran conflict led to a sharp correction in precious metals as rising Treasury yields and a stronger dollar outweighed safe-haven demand.