Gold Prices on MCX Rise Amid Stronger Dollar, Brent Crude Falls

Gold prices on MCX rose by 0.14% to Rs. 1,50,914 per 10 grams as of September 25 amid a stronger US dollar and higher Treasury yields weighed on precious metals.

The October gold futures increased despite the pressure in recent sessions, with 24K gold rising by Rs. 16 to Rs. 1,52,840 per 10 grams and 22K advancing by Rs. 80 to Rs. 1,40,100.

In other markets, Brent crude futures fell 0.90% to USD 105.6 per barrel, while US West Texas Intermediate (WTI) edged lower by 1.62% to USD 93.08 per barrel.

Kelvin Wong, senior market analyst at OANDA, emphasized that the interest rate situation will continue to be a focus, with markets pricing in a more hawkish Fed strengthening the dollar and negatively affecting gold prices.