Commodities
Indian Gold and Silver Prices Fall Amid Global Cautiousness
Gold and silver prices in India declined on Tuesday (August 18), as investors turned cautious ahead of fresh signals from the US Federal Reserve on interest rates. On the Multi Commodity Exchange, gold futures for October delivery fell ₹544, or 0.35%, to ₹1.55 lakh per 10 grams.
The decline in domestic prices was mirrored globally, with gold futures in New York falling 0.36% to $4,457.60 an ounce, and silver down 1.78% at $65.01 an ounce.
According to Gaurav Garg, head of research at Lemonn, the decline in gold prices was mainly due to weaker spot demand, while higher US Treasury yields and renewed inflation concerns linked to rising oil prices reduced demand for non-yielding precious metals.