Gold Market
Daily movements in the gold market and what is driving them.
Gold prices edged higher on Friday but are set for a weekly decline of 2.1% as rising US Treasury yields and expectations of further Federal Reserve rate increases dampened investor appetite.
MCX gold dropped ₹3,500 per 10 grams this week, erasing recent gains, after US Treasury yields touched 19-year peaks and the Federal Reserve signalled further rate increases.
Kinross Gold has reduced its 2026-2027 production forecast by about 8% after weather and metallurgical issues in Chile and slower mining in Nevada. The miner raised its shareholder return target partly offsetting the news.
India's market regulator has extended its vault manager framework beyond electronic gold receipts to ETFs and derivatives, and raised the net-worth threshold to Rs 75 crore.
Gold fell to a one-week low on Thursday as a stronger US dollar and rising bond yields reduced the metal’s appeal. Higher oil prices added to the headwinds.
NSE MD & CEO Ashishkumar Chauhan has detailed the exchange's plans to diversify revenue streams, highlighting the live Electronic Gold Receipts (EGR) product and a pipeline that includes bond index futures and electricity contracts.
October gold futures on the MCX slipped ₹171 to ₹1,51,128 per 10 grams on weak spot demand. Global contracts in New York also eased, down 0.25 per cent to $4,277 an ounce.
Chris Griffith, former Gold Fields CEO, has joined a private equity venture seeking $1 billion to invest in African critical minerals. He is working with Colin Coleman and Sam Jonah.
Silver dropped nearly 3% on Wednesday as a hawkish Fed pushed the dollar to a two-month high. Despite the sell-off, the metal remains within its mid-August range, though the 4-hour chart shows growing bearish pressure.