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Commodities

MCX Gold Surges Amid Global Signals and Weaker Dollar

Guavy AI Editorial Team
Instruments
Gold
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Gold prices on the Multi Commodity Exchange (MCX) rose by 0.52% to Rs. 1,60,250 amid positive global cues and healthy spot market demand on August 21.

The CME FedWatch Tool suggests that markets are currently pricing in a 64% probability of the Federal Reserve keeping interest rates unchanged and a 36% chance of a rate hike in September.

US gold prices also edged higher, supported by a weaker dollar and the US Treasury's bond buyback move. Spot gold rose 0.5% to $4,540.18 per ounce, while US gold futures increased by 0.6% to $4,596.60.

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