Forex
Gold Prices Under Pressure Ahead of US Inflation Report
Gold and silver futures are experiencing pressure following a recent 2.2% price correction on the MCX.
Investors are preparing for the upcoming US inflation report on September 11, which will shape future interest rate expectations.
The People's Bank of China recently added another 20 tonnes of gold to its reserves, continuing a 21-month streak of consistent buying.
Market analysts are watching key price levels closely as volatility persists. For gold, Rs 1.57 lakh per 10 grams is being watched as an immediate resistance level, a price point where the asset has struggled to rise above in recent trading.