Gold and silver futures rose on the MCX on Monday, supported by firm global cues and easing concerns over US Federal Reserve rate hikes. Experts highlighted key resistance and support levels, while a stronger rupee limited gains from international prices.
Gold prices declined nearly 1.86 per cent as stronger US inflation, labour and trade data raised expectations of prolonged monetary tightening. A hawkish speech by Federal Reserve Chair Kevin Warsh further pressured bullion, while silver also retreated from recent highs
Gold prices declined during the week after stronger-than-expected US jobs data boosted expectations of higher interest rates for longer. Silver witnessed steeper losses as rising Treasury yields and a stronger dollar reduced the appeal of precious metals and raised demand concerns
Gold prices in India slipped slightly on Thursday while silver rebounded on strong buying. On Multi Commodity Exchange, gold futures declined marginally as global bullion weakened due to a stronger dollar, while silver gained. Meanwhile, the Indian Rupee hit a record low
Gold and silver prices fell sharply on Monday due to higher margin requirements, strong US economic data and policy concerns. Analysts said rising dollar, higher yields and cautious investor sentiment weighed on bullion prices in domestic and global markets
