Commodities
Gold Prices Rise Amid Weaker Dollar and Declining Yields
Gold prices rose on August 24 due to a weaker dollar and declining US Treasury yields. The COMEX gold futures were up 0.47% to $4,702.70 per ounce, while MCX gold futures increased by 0.54% to Rs 1,63,315 per 10 grams.
The domestic spot gold on MCX surged towards Rs 1,59,802 per 10 grams on Friday. However, silver prices declined by 0.69% to $69.05 per ounce and 1.28% to Rs 2,45,629 per kilogram during the morning trade.
The LBMA spot gold price stood at $4,582.10 per ounce in the PM fixing on August 21. Going ahead, gold prices will be influenced by bond prices, crude oil, and US-Iran developments, with key macro triggers including Core PCE inflation and US GDP data.