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Commodities

MCX Gold Price Falls Amid Weak Global Cues, Brent Crude Rises

Guavy AI Editorial Team
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Oil Gold
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The gold price on MCX fell by 0.19% to Rs. 1,52,472 per 10 grams on September 7 due to weak global cues following strong US jobs data that reinforced expectations of interest rate hikes from the Federal Reserve.

The October gold futures contract declined as demand for spot gold remained neutral and investors awaited the upcoming US Consumer Price Index (CPI) data for further clarity on monetary policy decisions.

Brent crude futures, however, rose 0.88% to USD 97.13 per barrel, while US West Texas Intermediate (WTI) edged higher by 0.95% to USD 92.35 per barrel.

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