Commodities
Gold Prices Fall Fourth Straight Session Amid Caution Ahead of Jackson Hole
Gold prices continued their downward trend for the fourth consecutive session on Friday, falling by Rs 856 to reach Rs 1.58 lakh per 10 grams on the Multi Commodity Exchange.
The decline came ahead of US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium, with investors remaining cautious due to geopolitical tensions and inflation concerns.
According to Akshat Siddhant, Lead Quant Analyst at Mudrex, traders booked profits in domestic markets following higher-than-expected US Personal Consumption Expenditures (PCE) inflation data for July.
The December contract also fell by Rs 942, or 0.59 per cent, to Rs 1,59,450 per 10 grams.