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Gold Drops 1.21 Percent on MCX as Rupee Appreciates Against US Dollar
M
Moneycontrol•12-10-2026, 19:10
Gold Drops 1.21 Percent on MCX as Rupee Appreciates Against US Dollar
- •MCX gold futures for December 4 delivery declined 1.21 percent to Rs 1,49,671 per 10 grams during the evening session.
- •The sharp appreciation of the rupee to 95.75 against the US dollar put additional downward pressure on domestic bullion prices.
- •International spot gold also declined 0.50 percent, hovering around $4,173 per ounce.
- •Market focus has now shifted to the upcoming US CPI data which will likely influence the Federal Reserve interest rate outlook.
- •Gold ETF inflows reached Rs 4,451 crore in September, marking the strongest monthly reading in the current cycle.
Key Questions Answered
Gold prices dropped on October 12, 2026, as the rupee experienced a sharp appreciation to 95.75 against the US dollar, placing added pressure on domestic bullion prices.
The rupee appreciated by 96 paise to close provisionally at 95.75 against the US dollar after the Reserve Bank of India intervened over the weekend with multiple measures to bolster the domestic currency.
Gold ETF inflows accelerated to Rs 4,451 crore in September, marking the strongest monthly reading in the current cycle and pushing assets under management close to the recent all-time high at Rs 1.86 lakh crore.
