MCX Gold Prices Fall Amid Inflation Data and Warsh Speech
Gold prices have declined on the Multi Commodity Exchange (MCX) after four days of gains, while silver has dipped by Rs 4,300/kg. The downward trend is attributed to investors shifting their focus towards key inflation data and a speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole Conference.
The MCX silver futures for September 2026 delivery are down Rs 1,921 to Rs 2,42,299 per kg. Gold futures for October 2026 delivery have declined by Rs 229 to Rs 1,63,015 per 10 grams. Silver has dropped by Rs 4,300/kg in the last two sessions.
The recent surge in gold prices was due to the U.S. Treasury Department's announcement of doubling liquidity support buyback operations for longer-dated notes and bonds. This move raised concerns over currency debasement and fueled interest in gold as a hedge against inflation.