Gold prices inched up in Tuesday’s (July 15) morning trade in the domestic derivatives market ahead of US inflation data. On the other hand, silver rates dropped on profit booking at a record high.
MCX Gold August 5 contracts traded 0.12 per cent higher at ₹97,896 per 10 grams, while MCX Silver September 5 contracts were 0.54 per cent down at ₹1,12,330 per kg at that time.
In the previous session, MCX Silver hit a record high of ₹1,15,136 per kg.
Experts pointed out that US President Donald Trump’s announcement of trade tariffs on Canada and Mexico supported silver prices. Tariff uncertainties are also helping gold hold its key support levels.
The focus is on the US inflation data, due later today, which will influence expectations on the interest rate trajectory of the US Fed and affect precious metal trade.
(This is a developing story. Please check back for fresh updates.)
