Gold Prices Fall 1.23% to $4,474.30/Oz; Silver Down 1.71% to $65.85/Oz – Indian MCX Declines - NEWZA

⚡ Key Financial Takeaways

COMEX gold futures fell 1.23% to $4,474.30 per ounce after Fed Chair Kevin Warsh’s hawkish remarks.

Indian MCX gold futures for October slipped 0.91% to Rs 1,54,520 per 10 grams; silver contract for September dropped 1.66% to Rs 2,33,500 per kilogram.

Spot gold and silver in India traded at Rs 1,58,854/10g and Rs 2,43,862/kg respectively, indicating a cautious market outlook.

Global Market Impact The latest data shows that global gold futures on the COMEX index slipped 1.23% to $4,474.30 per ounce, while silver fell 1.71% to $65.85 per ounce. The decline followed Fed Chair Kevin Warsh’s announcement of a hawkish stance on inflation, prompting profit‑booking among traders.

Domestic MCX Movements In India, the MCX October gold futures opened down 0.91%, trading at Rs 1,54,520 per 10 grams. The September silver contract fell 1.66% to Rs 2,33,500 per kilogram as of 09:01 IST, reflecting a similar bearish trend. Spot prices for the day were Rs 1,58,854 per 10 grams for gold and Rs 2,43,862 per kilogram for silver, slightly higher than the previous session.

Spot Prices & Analyst Outlook Analysts predict that the current global environment will lead to a cautious gap‑down or flat opening bias for precious metals. Indian investors are watching closely as the Fed’s stance may influence future price swings. Keeping an eye on both COMEX and MCX movements will help traders and investors make informed decisions in a volatile market.