Gold Prices in India Slip After Three-Month High Amid Interest-Rate Outlook Uncertainty
Gold prices in India edged lower on August 26, retreating from their three-month high reached in the previous session. The decline came as investors awaited the US Personal Consumption Expenditures (PCE) price index for clues on the Federal Reserve's interest-rate outlook.
The spot gold was down 0.3 percent, or USD 14, to USD 4,645.34 an ounce, while spot silver was nearly flat at USD 68.59 an ounce.
On the Multi Commodity Exchange (MCX), gold was trading 0.01 percent higher at Rs 1,62,906 per 10 grams, and silver was also trading 0.42 percent higher at Rs 2,45,154 per kg.
The price of 24-carat gold stood at Rs 1,63,730 per 10 grams in Chennai, while 22-carat gold was priced between Rs 1,49,398 and Rs 1,49,893 per 10 grams across Delhi, Mumbai, Kolkata, and Hyderabad.
Silver prices varied across major Indian cities, with Chennai recording the highest rate at Rs 2,47,686 per kg, followed by Kolkata at Rs 2,47,440.