New Delhi, Sep 29, 2026: Gold prices were under pressure in the domestic futures market on Tuesday, with the yellow metal trading near a seven-week low in global markets. The weakness came as investors expect the US Federal Reserve to keep interest rates higher for longer.
The October Gold futures contract on the Multi Commodity Exchange (MCX) was trading lower by 0.21% at around ₹1.46 lakh per 10 grams during the day.
Gold under fire
International gold prices have traded near their lowest levels in almost seven weeks as market players readjusted their outlook for US monetary policy.
Higher interest rate expectations have pressured gold as higher rates can dent non-yielding bullion’s appeal.
Gold prices are also closely watched by investors as changes to the US dollar and Treasury yields can impact them.
Investors eye US Federal Reserve
The next direction for gold prices will likely be heavily influenced by upcoming U.S. economic data and comments from Federal Reserve officials.
Gold could continue to be under pressure if the Fed sticks to its cautious stance on rate cuts, which could support the dollar and bond yields.
However, uncertainty over the global economy, geopolitical tensions and central-bank buying of gold could continue to lend some support to the precious metal.
Where Are Gold Prices Headed?
MCX Gold is trading at around ₹1.46 lakh per 10 grams and traders would be keenly tracking global market cues and developments on the US monetary policy front.
The US Dollar, bond yields, upcoming economic data and expectations around Federal Reserve interest rates could continue to be important drivers for gold in the near term.
Market Sustain: Gold prices are currently under pressure on expectations of higher for longer US interest rates. Investors will look to global cues and key economic developments to judge the next move in bullion prices.
