Commodities
Gold Prices Plummet Amid Higher US Inflation and Hawkish Fed Outlook
Gold prices dropped by 1.86 percent during the week as market participants digested higher-than-expected US inflation data and Federal Reserve Chair Kevin Warsh's hawkish speech at the Jackson Hole symposium.
The price of 10 grams of 24-carat gold fell from Rs 1,62,603 on Monday to Rs 1,59,578 on Friday. MCX gold futures expiring in October dropped 1.63 percent, while MCX silver futures for September shed 1.66 percent.
Gold futures stood at Rs 1,56,400, and silver futures were at Rs 2,36,651 per kg.