Commodities
US Inflation Data Sends Gold Prices Lower Ahead of Fed Rate Hike Decision
Global gold prices declined on Monday after the US released higher-than-expected inflation data, increasing the likelihood of a Federal Reserve interest rate hike this week.
The MCX gold futures expiring in October stood at Rs 1,52,655, while MCX silver futures for September delivery were at Rs 2,34,886 per kg.
Silver prices fell by nearly 0.8% to $64 an ounce, and platinum and palladium also declined due to the heightened inflation concerns.