Gold Prices Dip, Silver Falls Ahead of US Inflation Data Release
Gold and silver prices on the Multi Commodity Exchange (MCX) opened lower on Thursday, despite a subdued dollar. The renewed tensions between the U.S. and Iran, as well as upcoming U.S. inflation data, kept markets focused on interest rates.
The MCX silver futures for September 2026 delivery fell by Rs 1,500 to Rs 2,42,276 per kg, while gold futures for October 2026 delivery declined by Rs 182 to Rs 1,53,581 per 10 grams. The U.S. dollar's weakness made dollar-denominated metals cheaper for investors holding other currencies.
Markets are awaiting the release of U.S. producer price index data at 1230 GMT on Thursday, followed by consumer inflation figures on Friday. According to the CME FedWatch Tool, there is a 60% probability of a U.S. rate increase this month, which typically reduces the appeal of assets without yield.