Gold prices fall Rs 1,450/10g; silver down Rs 1,400/kg despite a soft dollar ahead of US economic data. Ti - The Economic Times

AI desk brief

MCX December gold fell Rs 1,450 to Rs 1,51,499/10g and December silver lost Rs 1,400 to Rs 2,24,326/kg, even as the softer dollar and lower oil prices kept the broader precious-metals backdrop supported. Spot gold was up 0.3% at $4,206.01/oz after hitting a session high since Oct. 2, while spot silver rose 0.5% to $61.12/oz; platinum and palladium also firmed.

Traders are focused on Wednesday’s US CPI, followed by PPI and retail sales on Thursday. FedWatch shows an 17% chance of an October hike and 86% for December, while near-term technicals cited gold support at $4,184-$4,155 and resistance at $4,220-$4,264; on MCX, gold support is seen at Rs 150,500-Rs 149,800 and resistance at Rs 152,000-Rs 152,850.