Gold Prices on MCX Decline Amid Rising US Dollar

Gold prices on the MCX declined by 0.11% to Rs. 1,63,044 on August 25 as the US dollar and bond yields rose ahead of key inflation data and the Jackson Hole Symposium.

The rise in the US dollar and bond yields weighed on gold prices, which had reached their highest levels in more than three months before the decline.

US West Texas Intermediate (WTI) crude oil futures edged higher by 0.40% to USD 85.35 per barrel, while Brent crude futures rose 0.23% to USD 92.38 per barrel.

The CME FedWatch Tool indicates markets are currently pricing in a 58.1% probability that the Fed will keep rates unchanged and a 41.9% chance of a rate hike in September.