Gold falls ₹399 on MCX, silver rises ₹193 amid inflation concerns - Business Standard

AI desk brief

Gold futures opened lower on MCX, with the October contract down ₹399 at ₹1,52,180/10g versus the prior close of ₹1,52,579 before trading at ₹1,52,369, down ₹210. The session range was ₹1,52,101-₹1,52,400, while gold was near $4,415/oz on Comex and silver around $66.60/oz globally; MCX silver was near ₹2,39,700/kg and up ₹193.

The note ties the pullback to higher crude prices, which are stoking inflation fears and expectations of higher rates, a headwind for gold, even as inflation-hedge demand remains firm. It also says August’s sharp gold rise was supported by investment/hedging demand and continued central bank buying, including China’s central bank.