Gold futures fell nearly 4% in a week on MCX – Gold futures for December delivery on the Multi Commodity Exchange (MCX) fell Rs 5,768, or nearly 4%, over the past week to close at around Rs 1.42 lakh per 10 grams. Elevated US Treasury yields and a stronger dollar have weighed on the yellow metal, limiting attempts at a recovery.
Gold, silver face fresh pressure as oil surge revives inflation fears
Gold and silver could face further selling pressure this week as rising crude oil prices fuel inflation concerns and strengthen expectations of higher-for-longer interest rates. Investors will watch the US Federal Reserve’s October 27-28 meeting for clues on the outlook for borrowing costs, with analysts warning that the outcome could determine whether bullion stabilises or extends its decline.
Gold hovers near three-month low ahead of Fed policy meeting
Gold prices fell 0.2% to $3,987.45 per ounce, hovering near a three-month low as investors awaited the US Federal Reserve’s policy meeting and key inflation data for clues on the interest rate outlook. Bullion recorded a 4% weekly decline last week, its steepest fall since June, as elevated energy prices fuelled expectations of higher-for-longer interest rates.