Gold Prices Consolidate After Two-Month High
· Business · LiveMint, Economic Times
Gold prices fell 0.7% on Thursday, slipping to $4,487.63 per ounce after a swing to $4,525.79 on Wednesday. The rally was sparked by the US Treasury’s surprise announcement to double buybacks of long‑dated bonds, which lowered yields and weakened the dollar. MCX gold surged slightly to ₹1,58,300 per 10 grams, while US futures remained flat at $4,545.60. Kotak Securities analyst Kaynat Chainwala says the decline below $4,500 is a consolidation move rather than a trend reversal, with $4,400 seen as a key downside support. Gold has stayed above the crucial $4,000 level and is about 15% below pre–Iran conflict prices.
Why it matters
Retail and institutional investors in India who hold or plan to buy gold watch these price moves to time their purchases and assess impacts on portfolio returns and rupee stability.
Read the original report — LiveMint
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