Noida, Aug 19 (APAC Media): Gold and silver prices fell on the Multi Commodity Exchange (MCX) on Wednesday as rising crude oil prices and renewed expectations of higher US interest rates weighed on investor sentiment.
The decline in precious metals came amid uncertainty over US-Iran talks, with stalled negotiations adding to concerns about global energy supplies and pushing oil prices higher.
Higher crude prices have raised fears of renewed inflationary pressure, strengthening expectations that the US Federal Reserve may maintain a tighter monetary policy stance. Higher interest rates typically weigh on non-yielding assets such as gold and silver, as investors may prefer interest-bearing investments.
City-wise Gold & Silver Prices (19 Aug)
| City | 24K Gold (₹/10g) | 22K Gold (₹/10g) | Silver 999 (₹/kg) |
|---|---|---|---|
| New Delhi | 155,722 | 141,994 | 249,182 |
| Mumbai | 155,264 | 141,231 | 249,571 |
| Bengaluru | 155,973 | 141,322 | 250,102 |
| Kolkata | 155,782 | 141,041 | 250,292 |
| Hyderabad | 155,196 | 141,426 | 249,912 |
| Chennai | 155,386 | 141,597 | 250,202 |
Gold prices have also been under pressure from elevated US Treasury yields and a stronger dollar in recent sessions. However, international bullion prices recovered later in the day as the dollar weakened and bond yields eased from their highs.
Spot gold rose around 0.8% to $4,370.02 an ounce, while silver gained to about $63.80 an ounce in international markets, according to market data.
In domestic trading, gold had earlier slipped below ₹1.55 lakh per 10 grams, while silver also recorded a sharp decline as investors assessed movements in global bond yields, currency markets and interest-rate expectations.
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Market participants are now awaiting the minutes of the Federal Reserve’s latest policy meeting for clues about the central bank’s interest-rate outlook. The minutes could provide further guidance on how policymakers view inflation and economic growth.
Traders have recently adjusted their expectations for US monetary policy, with markets increasingly pricing in the possibility that the Federal Reserve will keep interest rates unchanged at its September meeting.
Analysts said bullion prices are likely to remain volatile in the near term, with crude oil, the US dollar, US bond yields and geopolitical developments expected to influence market direction.
For Indian investors, movements in international gold prices and the rupee-dollar exchange rate will also remain important factors in determining domestic bullion prices.
Gold and silver are expected to remain sensitive to changes in US rate expectations as markets assess the outlook for inflation and monetary policy.
–ENDS–
Disclaimer:Â Gold and Silver prices are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making investment choices.
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