MCX Gold, Silver Futures Slip Amid US Economic Uncertainty

On August 13, precious metals on the Multi Commodity Exchange (MCX) experienced a volatile session. Despite early gains, gold and silver futures declined due to market caution over US economic data and currency strength.

The MCX Gold October delivery contract opened at ₹1,55,071 per 10 grams but reversed its morning momentum, falling to ₹1,54,712 by the close. This represents a decline of ₹170 from the previous day's close.

Silver futures followed a similar pattern, struggling to maintain their morning gains. The September delivery contract opened at ₹2,38,000 per kg but eventually fell to ₹2,36,825, recording a decrease of ₹1,010.

The market is currently assessing the impact of US economic indicators on commodity prices. While US consumer inflation data for July showed a cooling trend at 3.4%, which typically supports gold prices, the market remains sensitive to the strength of the US dollar and bond yields.