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Gold Prices Drop 1 Percent on MCX as Rupee Appreciates
M
Moneycontrol•14-10-2026, 17:59
Gold Prices Drop 1 Percent on MCX as Rupee Appreciates
- •Gold prices traded weak on Wednesday as a sharp appreciation of the rupee against the US dollar added pressure on domestic bullion prices.
- •MCX spot gold slipped 1.03 percent to 1,45,615 per 10 grams, while December futures edged 0.33 percent down to Rs 1,47,956 per 10 grams.
- •International spot gold was down 0.528 percent, hovering just above $4,150 per ounce in the evening session.
- •Market participants remain cautious ahead of the upcoming US CPI data and Fed speeches which are expected to guide near-term direction for bullion.
Key Questions Answered
Domestic gold prices traded weak on the MCX due to the rupee's sharp appreciation against the US dollar.
The rupee appreciated by 95.14 paise to close at 95.14 against the US dollar on Wednesday, supported by RBI restrictions on dollar buying.
Market analysts are closely watching the upcoming US CPI inflation data and a scheduled speech by Fed Chair Warsh to gauge near-term interest-rate expectations and bullion direction.
