Commodities
MCX Gold Prices Fall Amid Profit-Taking and Weak Global Cues
Gold prices on the MCX fell by 1.55% to Rs. 1,53,852 per 10 grams on August 31 due to heavy profit-taking and weak global cues.
The price of October gold futures declined by 1.55%, while September silver futures lost 1.18% at Rs. 2,33,900.
However, Brent crude futures rose by 2.64% to USD 90.43 per barrel, and US West Texas Intermediate (WTI) increased by 2.34% to USD 85.35 per barrel.
The CME FedWatch Tool indicates that markets are pricing in a 40.1% probability of the Federal Reserve keeping interest rates unchanged and a 59.9% chance of a rate hike in September.