Commodities
Gold Prices Hit Three-Month Low After Jackson Hole Comments
The price of gold and silver has been under pressure following US Federal Reserve Chairman Kevin Warsh's hawkish remarks at the Jackson Hole symposium. His comments heightened concerns that the Fed could raise interest rates if inflation does not move back towards its 2% target.
Spot gold was down 0.4% at $4,428.54 per ounce by 0432 GMT, while US gold futures edged 0.1% lower to $4,477.20. Spot silver slipped 0.2% to $66.42.
The MCX gold declined 0.3% to ₹153,997.00 per 10 grams, and the MCX Silver initially fell 0.1% to ₹233,501.00 per kg before recovering and rising 1% to ₹235,800.00 per kg.