Commodities
MCX Gold Falls Rs 856 to Rs 1.58 Lakh per 10 Grams Amidst Caution Ahead of Jackson Hole Symposium
Gold futures on the Multi Commodity Exchange (MCX) continued their downward trend for the fourth consecutive session, falling Rs 856 to Rs 1.58 lakh per 10 grams.
The decline was attributed to investors' caution ahead of US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium.
The October delivery contract on MCX depreciated by 0.54% to Rs 1,58,140 per 10 grams, while the December contract fell by 0.59% to Rs 1,59,450 per 10 grams.
Akshat Siddhant, Lead Quant Analyst at Mudrex, stated that traders booked profits in domestic markets following higher-than-expected US Personal Consumption Expenditures (PCE) inflation data for July.