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Commodities

Raksha Bandhan Gold Prices Fall Amid Stronger Dollar

Guavy AI Editorial Team
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Gold Silver
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Gold and silver prices are in focus as India celebrates Raksha Bandhan. According to MCX, gold futures fell by ₹877 (0.55%) to ₹1,57,353 per 10 grams, while silver futures declined by ₹896 (0.37%) to ₹2,39,755 per kg.

The decline in gold prices can be attributed to a stronger US dollar and higher Treasury yields. Spot gold traded lower after stronger-than-expected US inflation data supported the US dollar and increased expectations around the Federal Reserve's interest-rate path.

Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, stated that 'gold prices had declined ₹s 1,400 over the previous two trading sessions.'

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