Commodities
US Inflation Data Sends Gold Prices Plummeting Amid Fed Rate Hike Fears
Gold prices dropped on Monday after US inflation data showed higher-than-expected numbers, increasing the likelihood of a Federal Reserve rate hike later this week.
The US core consumer price index, which excludes food and energy costs, surged 0.3% from a month earlier in August, fueling concerns that the Federal Reserve will raise interest rates.
Gold futures on MCX fell to Rs 1,52,655 per kg for October delivery, while silver prices dropped to Rs 2,34,886 per kg for September delivery.