gold rate Gold prices slipped on Tuesday as a stronger U.S. dollar and diminishing expectations of Federal Reserve rate cuts weighed on investor sentiment. On the Multi Commodity Exchange (MCX), gold futures for December delivery dropped to around ₹60,894 per 10 grams, down nearly ₹1,700 from the previous session’s high.
The U.S. dollar index climbed above 100.05, making gold more expensive for investors holding other currencies. Market participants believe the Fed’s cautious tone on future rate cuts has led to renewed strength in the dollar, prompting a short-term selloff in the bullion market.
Analysts see immediate support for MCX gold near ₹60,800 and ₹60,120, while resistance lies between ₹61,800–₹62,000. Experts recommend buying near support levels with a stop-loss at ₹59,900, targeting ₹61,800 in the short term.
Investors are advised to keep a close watch on U.S. economic data, the Federal Reserve’s policy stance, and movements in the dollar index for further cues.
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