The gold rate in India declined sharply on Tuesday, losing nearly ₹1,700 per 10 grams, as a robust U.S. dollar and reduced Fed rate cut expectations curbed demand. On the MCX, December gold futures traded at ₹60,894, reflecting weakness in global bullion markets.
Internationally, spot gold prices hovered near $2,390 per ounce, pressured by the dollar’s rebound and rising U.S. Treasury yields. The market now expects the Federal Reserve to maintain a tighter monetary policy stance until inflation cools further.
Technical analysts expect volatility to continue. Key MCX levels to monitor:
- Support: ₹60,800 – ₹60,120
- Resistance: ₹61,950 – ₹62,700
Traders are advised to remain cautious, as a sustained move below ₹60,800 could trigger deeper corrections. Conversely, any break above ₹62,000 may lead to a short-term rebound toward ₹62,500.
With festive gold demand in India approaching, analysts say any major dip could attract fresh buying from retail investors and jewellers.
Keywords: gold rate today MCX, gold prices drop, dollar rise effect on gold, Fed rate cut 2025, MCX technical analysis, gold support resistance
