Gold Prices Set for Soft Start on September 14th Amid Crude Oil Volatility

Gold prices are set to open lower on Monday, September 14th, according to Univest's analysis. The metal settled at Rs 152,190.00 per 10 grams on MCX on Friday, down 0.1 percent from the previous day. This soft start is attributed to a modest pullback in safe-haven demand, despite crude oil prices spiking intraday.

The Univest research desk, led by Ankit Jaiswal and Kunal Singla, is tracking global cues closely for any developments that may impact gold prices on MCX. Key drivers for the metal's movement include Brent crude prices, which spiked to a four-month high above $108 per barrel, and the US Dollar Index, which typically has an inverse relationship with metal and bullion prices.

A long weekend can bring fresh overnight headlines that may impact gold prices, making it essential for traders to size their positions carefully. With crude oil prices and global cues in focus, Univest's analysts suggest tracking these variables over the weekend before taking a position for Monday's session.