Gold Prices Fall as Dollar Strengthens
Gold and silver futures on MCX declined in early trade on Friday due to profit-booking after recent gains and a stronger US dollar. The most active gold futures prices slipped 0.62% (Rs 905) to Rs 1,43,935 per 10 grams at around 9:06 AM IST, down from the previous close of Rs 1,44,840.
The silver futures also remained under pressure, with prices declining 0.49 percent (Rs 1,079) to Rs 2,18,888 per kg, compared to the previous close of Rs 2,19,967 per kg.
Market participants are likely to watch global cues, including the US dollar's movement, Treasury yields and upcoming macroeconomic data, for further direction in precious metal prices. Meanwhile, gold prices in India edged higher on July 31 with rates rising by Rs 1 per gram across all major purity levels compared with the previous day.