Global Pressures Weigh on Gold as US Inflation Data Brings Mild Relief
Gold prices have been under pressure in recent sessions due to rising US bond yields and a stronger dollar, making non-yielding assets like gold less attractive. However, softer-than-expected US inflation data has provided some support to gold by reinforcing expectations that the Federal Reserve may keep interest rates unchanged at its October meeting.
Lower domestic prices have led to an improvement in physical gold demand ahead of the festive season. Despite this, global factors continue to influence gold prices, with no fresh IBJA rates released on Saturday and Sunday due to being weekly holidays.
The latest available trading session rates will remain applicable. On MCX, gold futures price stood at Rs 1,50,250 per 10 grams compared to Rs 1,50,390 in the previous trading session. Bullion prices were around Rs 1,50,550 per 10 grams.
Silver prices have also remained volatile, with MCX silver futures standing at Rs 2,25,545 per kg compared to Rs 2,23,706 in the previous session. Despite the latest rise, silver prices have fallen by around Rs 10,000 per kg during the week.