Gold Prices Fall for Fourth Straight Session Amid Fed Rate Hopes

Gold prices on the Multi Commodity Exchange (MCX) continued to decline for the fourth consecutive session, falling by Rs 896 or 0.56% to Rs 1,58,100 per 10 grams for October delivery.

This significant correction marks a 3.25% drop in MCX gold prices over four trading sessions, following a recent rally.

Investors are awaiting the Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium for clues on the Fed's approach to inflation and interest rates.

A more hawkish stance could push bond yields and the US dollar higher, potentially putting additional pressure on gold prices.