MCX gold retreats 26% from Rs 1,92,991 peak to about Rs 1,43,610 as Fed rate outlook shifts
AI Market Summary
Gold has reversed sharply from record highs as markets reprice the Fed toward "higher for longer" policy, lifting real yields and supporting the US dollar—both negative for non-yielding bullion. Geopolitical risk has not translated into sustained safe-haven flows, with oil-driven inflation concerns dominating. With international gold in a multi-week drawdown, focus shifts to US data (jobs, ISM) that could further tighten or ease financial conditions.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.18%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
India’s MCX gold has pulled back from a record Rs 192,991 per 10 grams to about Rs 143,610, a 26% drop of nearly Rs 50,000. The move has been driven by a repricing of US Federal Reserve policy, with markets factoring in three rate hikes this year and nearly an 80% chance of another increase in December. A stronger US dollar and a brief jump in oil prices have also fed inflation concerns, weighing on bullion. International gold has fallen for four straight weeks, with COMEX support seen at $3,950–$4,000 and a possible move toward $3,600 if that range breaks.
