October, 14 2026 Wednesday 02:14 Hrs
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Other Markets - Detailed News

Gold sheds under $4,200, MCX losses trimmed by Rupee weakness
07-Oct-26   17:18 Hrs IST
Gold retreated more than 1% below $4,200 an ounce in Asian trade Wednesday, erasing prior-day advances as a recovery in oil prices reignited anxieties surrounding inflation and interest rates. Intensified risks to Middle East energy flows, specifically increased tanker attacks in the Strait of Hormuz, maintained elevated Treasury yields amid persistent inflation, fiscal headwinds and substantial AI-related debt issuance. The dollar index remained above 102 in anticipation of the Federal Reserve minutes, while diminished inflation and employment data have encouraged certain policymakers to adopt a less aggressive stance. On MCX, December gold futures declined 0.4% to Rs.1,49,350 per 10 grams, with the rupee’s depreciation toward 97 per dollar mitigating the domestic downturn. The Reserve Bank of India’s 25-basis-point rate increase to 5.50% and transition toward “calibrated tightening” also underscored ongoing inflation risks.
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