Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday, August 28, 2024. Gold futures, maturing on October 4, 2024, stood at Rs 71,900 per 10 grams on the MCX, after recording a dip of Rs 222 or 0.31 per cent. The previous close was recorded at Rs 72,122.
Gold prices dropped over 1% on Thursday, weighed down by a strengthening dollar and rising Treasury yields, as traders awaited Federal Reserve Chair Jerome Powell’s speech for further insights on potential rate cuts. As of 12:14 p.m. ET (1614 GMT), spot gold fell 1.2% to $2,483 per ounce, following a record high of $2,531.60 on
Gold prices dropped in a volatile trading session on Wednesday after data revealed that U.S. consumer prices rebounded as anticipated in July. This dampened expectations for a significant rate cut by the Federal Reserve next month. Spot gold declined by 0.4% to $2,455.91 per ounce by 1338 GMT, while U.S. gold futures fell 0.5% to