Overview
- MCX October gold futures fell about Rs 5,318 over four trading sessions to roughly Rs 1,58,100 per 10 grams as losses extended into a fourth day.
- International spot gold slipped to the mid-$4,500s per ounce, and domestic retail rates eased on Raksha Bandhan with notable city-by-city spreads for 24K gold.
- Analysts point to a stronger dollar, rising US Treasury yields and investor caution ahead of Kevin Warsh's Jackson Hole remarks as the immediate reasons for the pullback.
- Silver diverged from gold by rebounding nearly 2 percent on the MCX to about Rs 2.44 lakh per kilogram as weaker crude oil and easing inflation pressure supported bullion demand.
- Local pricing rules drove varied outcomes across markets, including a Rs 3,500 drop in Pakistan's tola rate, and consumers face different final bills because GST, making charges and dealer premiums are added to exchange benchmarks.