Commodities
MCX Gold Falls Amid Renewed US-Iran Tensions
Gold prices on the Multi Commodity Exchange (MCX) fell by 0.16% to Rs. 1,54,209 per 10 grams due to renewed tensions between the US and Iran. This added to inflation concerns, causing gold to trade lower.
The September silver futures rose 0.45% to Rs. 2,34,898 on MCX. Meanwhile, Brent crude futures increased by 0.75% to USD 91.18 per barrel. The US West Texas Intermediate (WTI) oil prices edged higher by 1.06% to USD 86.67 per barrel.
The CME FedWatch Tool shows that markets are currently pricing in a 33.6% probability of the Federal Reserve keeping rates unchanged and a 66.4% chance of a rate hike in September.