Gold prices fell 1.21 percent on MCX on October 12 as the rupee strengthened against the US dollar. MCX gold futures for December 4 delivery reached Rs 1,49,671 per 10 grams. Jateen Trivedi said, "Gold traded weak as the sharp appreciation in the rupee added pressure on domestic prices."

Gold prices fell on Monday (October 12) as the rupee's sharp appreciation to 95.75 against the US dollar added pressure on domestic bullion prices. MCX spot gold slipped nearly 0.83 percent to 1,47,681 per 10 grams in the evening session. MCX gold futures for the December 4 delivery decline 1.21 percent to Rs 1,49,671 per 10 grams (18:53 IST). "Gold traded weak as the sharp appreciation in the rupee towards 95.75 added pressure on domestic prices of the dollar-denominated commodity. While Comex Gold fell around 0.4 percent, MCX prices declined by more than 1%, reflecting the additional impact of currency strength," Jateen Trivedi, VP Research Analyst (Commodity and Currency) at LKP Securities, said. Meanwhile, international spot gold also declined 0.50 percent, hovering at $4,173 per ounce in the evening session, while US gold futures also declined 0.49 percent to $4,195.70 per ounce (13:22 GMT) from its previous close. Focus now shifts to the US CPI data due this week, with inflation expectations remaining elevated and likely to influence the Fed's interest-rate outlook. According to estimates, gold is likely to trade between Rs 1,48,000 and Rs 1,52,000 per 10 grams. Read more: Gold prices fall 23 percent from the peak: How does your gold loan LTV change The rupee appreciated 96 paise to close at 95.75 (provisional) against the US dollar on Monday after the Reserve Bank of India stepped in over the weekend with several measures aimed at bolstering the domestic currency. Brent crude was trading higher by 0.94 percent at $105.70 per barrel in futures trade. InCred Money noted that gold ETF inflows accelerated to Rs 4,451 crore in September, the strongest monthly reading in the current cycle. AUM at Rs 1.86 lakh crore is approaching the recent all-time high. Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.