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Gold Slips Below $4,300 as Dollar Strengthens, Profit Booking Weighs on Bullion
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Moneycontrol•23-09-2026, 19:26
Gold Slips Below $4,300 as Dollar Strengthens, Profit Booking Weighs on Bullion
- •Gold prices declined 1.44% to just above $4,300 per ounce, with US gold futures also falling 0.78% to $4,342.10.
- •Domestic spot gold closed at Rs 1,51,415 per 10 grams, while MCX gold futures for October delivery dropped 0.62% to Rs 1,51,775.
- •Profit booking from higher levels and a rising Dollar Index (up 0.27% to 100.87) exerted pressure on gold prices.
- •Geopolitical events like US-Iran developments, UN meetings, and Xi Jinping’s US visit are expected to keep gold volatile.
- •Despite short-term dips, strong investment buying in China, with imports topping 1,000 tons by August, indicates a bullish bias for gold in the $4,250–$4,450 range.
Key Questions Answered
Gold prices declined 1.44 percent to hover just above $4,300 per ounce due to profit booking from higher levels near $4,365 and additional pressure from a strengthening US dollar index approaching 101, alongside expectations that major central banks will hold interest rates higher for longer.
Domestic spot gold closed the Wednesday session at Rs 1,51,415 per 10 grams, while MCX gold futures for October delivery declined 0.62 percent to close at Rs 1,51,775 per 10 grams.
China's demand story strengthened significantly as gold imports through August already topped 1,000 tons, surpassing the country's entire 2025 total driven by robust investment buying.
