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Gold, silver dip on the MCX;US$, bonds yields rise

For the second day in a row, both gold and silver prices have recorded a downfall on the Multi Commodity Exchange (MCX) on Thursday, September 21, 2023.

Gold futures, maturing on October 5, 2023, stood at Rs 59,315 per 10 grams, after recording a marginal dip of Rs 357 or 0.60 percent. The previous close was recorded at Rs 59,405.

Similarly, silver futures, due on December 5, 2023, witnessed a downfall of Rs 940 or 1.28 percent and were retailing at Rs 72,970 per kg on the MCX against the previous close of Rs 73,230.

Gold prices retreated on Thursday as the US dollar and bond yields powered higher after the Federal Reserve signalled another rate hike this year and lesser chances of monetary policy easing through 2024, According to the latest metal report, spot gold eased 0.1 per cent to $1,927.63 per ounce while US gold futures shed 1 per cent to $1,947.80.

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