Gold Prices Slide on Stronger US Dollar

Gold prices declined on August 10 after reaching a seven-week high in the previous session. The stronger US dollar made gold less attractive to foreign buyers, leading to the decrease.

The spot price of gold fell by 0.2% or $6.30 to $4,335.24 per ounce. Silver prices remained largely flat, hovering above $63 per ounce.

On the Multi Commodity Exchange (MCX), gold was trading 0.73% higher at Rs 1,52,924 per 10 grams, while silver was trading 1.39% higher at Rs 2,34,688 per kg.

The city-wise prices for gold and silver in India were also reported, with Delhi and Kolkata recording the same price of Rs 1,51,630 per 10 grams for 24-carat gold.