Gold Prices Fall as Investors Await Key US Data Amid Ongoing Conflict

Gold and silver prices fell on the Multi-Commodity Exchange on Wednesday as investors awaited key US data. MCX silver futures for September 2026 delivery declined to Rs 2,39,081 per kg, down by Rs 400 from Tuesday's close.

The dollar remained subdued, but renewed attacks between the U.S. and Iran and upcoming inflation data kept markets focused on the interest-rate outlook. Brent crude prices rose for a fourth consecutive session, which generally adds to inflationary pressure.

Gold futures for October 2026 delivery fell by Rs 500 to Rs 1,52,101 per 10 grams. Spot gold rose 0.4% to $4,372.19 per ounce, while U.S. gold futures fell 0.5% to $4,416.00.

According to Manoj Kumar Jain of Prithvi Finmart, gold is likely to find support at $4,400-4,365 per troy ounce, while resistance is placed at $4,474-4,510. For silver, support stands at $65.80-64.70, with resistance at $68.00-69.10 per troy ounce in today's session.