Forex
MCX Gold Price Falls Amid Rise in US Dollar and Bond Yields
The gold price on the Multi Commodity Exchange (MCX) declined by 0.11% to Rs. 1,63,044 per 10 grams on August 25 amid a rise in the US dollar and bond yields.
This came ahead of US inflation data and the Jackson Hole Symposium this week. The price of gold had been rising due to concerns over economic uncertainty, but it seems that investors are now focusing on other factors.
The CME FedWatch Tool indicates markets are currently pricing in a 58.1% probability that the Federal Reserve will keep rates unchanged and a 41.9% chance of a rate hike in September.