Gold Market
Gold and silver prices dropped sharply on MCX as higher oil prices revived inflation concerns and boosted expectations of further US Federal Reserve rate hikes. Rising bond yields and a firm dollar added to the pressure.
Gold held firm near $4,280 on Friday, recovering from a two-day decline as lower oil prices and a softer dollar countered pressure from elevated Treasury yields and Fed tightening bets.
Gold fell 0.85% on Monday, hitting a one-month low of $4,253, as the 10-year US Treasury yield climbed above 5% for the first time since 2023 and the US Dollar strengthened. Markets await the Federal Reserve's policy decision on Wednesday.
Spot gold fell 0.7% to $44,423.84 per ounce, hitting its lowest in nearly two weeks after Federal Reserve Chair Kevin Warsh indicated that interest rate hikes may be needed to curb inflation.
Gold prices fell ₹9,500 per 10 grams over four sessions and silver dropped ₹7,700 per kg after Fed Chair Kevin Warsh's comments raised expectations of higher US interest rates.
Gold fell over 1.37% on Wednesday, slipping below $4,600, after US inflation data aligned with estimates and raised the likelihood of a Federal Reserve rate hike in December 2026.
Gold pulls back after failing to break $4,435 resistance. Middle East tensions and Fed rate uncertainty weigh. Wednesday's Fed minutes could decide the next move.