Commodities
Gold Prices on MCX Rise Amid Softer US Dollar and Declining Bond Yields
Gold prices on MCX rose by 0.26% to Rs. 1,58,412 per 10 grams amid a softer US dollar and declining bond yields. This led to increased buying in precious metals, supporting gold prices.
August gold futures saw this gain, while September silver futures declined 1.34% to Rs. 2,39,958. Meanwhile, Brent crude futures rose 0.24% to $91.84 per barrel, and US West Texas Intermediate (WTI) edged higher by 0.11% to $84.48 per barrel.
The CME FedWatch Tool shows markets are currently pricing in a 67.3% probability that the Fed will keep rates unchanged and a 32.7% chance of a rate hike in September.