Gold Prices Volatile Amid US-Iran War Concerns
Gold and silver prices on the Multi Commodity Exchange (MCX) were volatile on September 18, as a decline in crude oil prices and a stable US dollar supported prices. However, lingering concerns over the US-Iran war kept investors cautious.
MCX gold October futures declined by 0.08% to ₹1,52,861 per 10 grams, while MCX silver December futures rose by 0.49% to ₹2,39,380 per kg around 9:10 AM.
The decline in crude oil prices was led by Brent Crude, which fell by 1% to trade below $104 per barrel. The US dollar also remained stable but was set to end the week with a gain of over 1%, weighing on gold prices.
US gold futures for December delivery cooled by 0.10% to $4,380.95 per troy ounce after the US Federal Reserve lifted interest rates by 25 basis points on September 16.