Gold price today: Gold rate on MCX declined on Friday (April 10) morning due to profit booking amid a strengthening US dollar as concerns over the US-Iran ceasefire persisted and crude oil prices climbed by a per cent.
The dollar index climbed by 0.10% to 98.93, making the yellow metal expensive for overseas buyers after the US Federal Reserve’s preferred inflation gauge- Personal Consumption Expenditures index- increased by 2.8% year-on-year (YoY) in February. Investors now await the US Consumer Price Index data for March, due later in the day.
Brent crude prices climbed by a per cent to trade near $97 per barrel, while WTI crude traded over $98.5 per barrel, keeping the dollar’s demand elevated.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
