Gold Price Today: MCX Gold Fell 0.19% to Rs. 1,52,472 Amid Weak Global Cues, Brent at USD 97.13 - Analytics Insight

AI desk brief

Gold and silver eased on MCX and in global trade after strong US jobs data pushed the market toward a more hawkish Fed path. October gold futures fell 0.19% to Rs. 1,52,472/10g, September silver slipped 0.14% to Rs. 2,37,314, while spot gold was down 0.5% at $4,405.47/oz and December gold futures fell 0.5% to $4,452.20/oz.

The macro backdrop is doing the damage: CME FedWatch shows 58.4% probability of a September rate hike versus 41.6% for unchanged policy, reinforcing pressure on non-yielding metals. In India, 24K gold eased Rs. 65 to Rs. 1,54,150/10g and 22K fell Rs. 60 to Rs. 1,41,300/10g, with Mumbai/Kolkata at Rs. 1,54,150 and Delhi slightly higher at Rs. 1,54,300. Silver, platinum and palladium also traded softer globally, with spot silver at $66.03/oz, platinum at $1,805.53/oz and palladium at $1,396.08/oz.

Near term, the tape remains sensitive to US rate expectations and further labour-market data. A sustained repricing toward tighter policy would keep pressure on gold and silver, while any pullback in yields or a dovish Fed shift would likely re-open upside for bullion. Brent’s move to $97.13/bbl and WTI to $92.35/bbl adds some inflation support, but for now the rates channel is dominating.