Gold Prices Fall as Markets Await US Payrolls Report
Gold and silver prices declined on Friday ahead of the closely watched US nonfarm payrolls report, which may signal the Federal Reserve's next interest rate move.
The MCX silver futures for September 2026 delivery dropped by Rs 1,500 to Rs 2,40,858 per kg, while gold futures for October 2026 delivery fell by Rs 2,100 to Rs 1,55,010 per 10 grams.
Markets are currently pricing in a 62% probability of a US rate hike this month, according to the CME FedWatch Tool. Higher interest rates typically pressure non-yielding assets like gold.