Commodities
MCX Gold Falls ₹399 as Crude Oil Prices Surge
Gold prices on the Multi Commodity Exchange (MCX) fell by ₹399 on September 9, as investors reacted to rising crude oil costs and fears of persistent inflation.
The October gold contract opened lower, slipping due to concerns over prolonged inflation. Higher energy costs often signal broader price increases, complicating central banks' decisions on interest rates.
This challenging environment for gold is linked to its non-yielding nature; investors prefer interest-bearing instruments when rates are high. In contrast, silver prices displayed resilience, gaining ₹193 per kg as the benchmark December contract rose.