Gold Market
Gold prices dropped around Rs 4,300 per 10 grams over two trading sessions on the MCX, as higher crude oil prices fuelled inflation worries and strengthened the case for additional US Federal Reserve rate increases.
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.
Gold futures on MCX reversed early gains to close ₹914 lower at ₹1,52,180 per 10g as a stronger dollar and hawkish Fed comments pressured prices. Comex gold also declined.
Gold futures on the MCX slipped ₹120 to ₹1,63,109 per 10 grams on Tuesday as spot demand weakened. Global benchmarks also fell.
MCX gold extended its rally for a fifth consecutive week, with August gains reaching 13.3% as a declining US dollar and reduced expectations of a Federal Reserve rate hike supported demand.
Gold prices have climbed 16–17% from their June 2026 lows, supported by central bank demand, improving ETF inflows, and a sharp sell-off in US long-term bonds. Experts weigh in on the outlook.
Gold gained nearly Rs 6,500 per 10 grams and silver surged Rs 13,000 per kg over three consecutive sessions on the MCX, supported by a weaker US dollar and lower Treasury yield expectations.
Gold prices rose above Rs 1.58 lakh per 10 grams on the MCX as US Treasury yields fell and the dollar softened after increased liquidity support. Analysts expect continued volatility.