Gold Prices Fall to Rs 1.54 Lakh per 10 Grams on MCX
· Business · Economic Times, Times of India, LiveMint
Gold futures for October delivery on the MCX declined by Rs 133 to Rs 1,54,129 per 10 grams on Tuesday. While domestic prices slipped, international spot gold prices rose 0.2% to $4,342 an ounce as US Treasury yields retreated. Market sentiment remains cautious due to rising oil prices and uncertainty regarding potential Federal Reserve interest rate hikes. Some experts, including Christopher Wood and John Paulson, have characterized the recent price correction as a potential buying opportunity. Traders are currently awaiting the release of the Federal Reserve's meeting minutes to gauge future policy direction.
Why it matters
The fluctuation in gold prices impacts Indian consumers and investors who monitor the metal as a traditional hedge against inflation and currency volatility.
Read the original report — Economic Times
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