Gold slips to ₹1.47L per 10g on MCX, silver gains
Business
Gold prices took a dip on Monday, slipping 1.41% to ₹1.47 lakh per 10gm on MCX, breaking key support levels.
Meanwhile, silver got a boost from new buyers, rising 0.92% to ₹2.35 lakh per kilogram.
Rising US yields weaken gold outlook
Gold's weakness is linked to rising US Treasury yields and talk of higher interest rates, making it less tempting for investors right now.
Ravi Singh, Chief Research Officer at Master Capital Services, points out gold could drop further if it slips below ₹1.46 lakh per 10gm.
Still, jewelry demand isn't fading; Dishi Somani, Founder of DishiS Designer Jewellery, notes silver is catching on with younger folks thanks to its affordability, while gold keeps its status as a classic asset in India.