Gold ends five-week winning streak as Fed tightening comments weigh
Gold snapped a five-week winning streak, falling 3.4% as Fed comments on inflation and possible tightening spooked markets. Despite the drop, gold remains up 30% year-over-year.
Gold Market
Gold snapped a five-week winning streak, falling 3.4% as Fed comments on inflation and possible tightening spooked markets. Despite the drop, gold remains up 30% year-over-year.
Gold, silver, platinum and palladium each have distinct supply, demand and market characteristics that affect their behaviour as assets.
Gold traded little changed near $4,604 an ounce on Friday as investors looked ahead to Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole symposium for clues on interest rate policy.
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 prices held steady as investors focused on upcoming US inflation data for clues on the Fed's interest rate path. Other precious metals edged higher amid global economic concerns.
Gold futures on the MCX slipped ₹120 to ₹1,63,109 per 10 grams on Tuesday as spot demand weakened. Global benchmarks also fell.
A comparison of home storage, bank safe deposit boxes, and professional vaults for physical gold, covering the key trade-offs of each option.
Gold futures on the MCX rose ₹1,283 to ₹1,63,721 per 10 grams for October delivery, driven by fresh positions and firm spot demand. Globally, gold gained 0.99% to $4,648.78 per ounce.
Gold rose for a fourth consecutive session on MCX, gaining Rs 8,200 per 10g, while silver snapped a three-day rally, falling Rs 1,800/kg. Markets await US inflation data and a speech by Fed Chair Kevin Warsh.