MCX gold drops ₹3,500 this week as Fed-rate bets lift US yields
MCX gold fell ₹3,500 per 10 grams this week to ₹1,50,891 as stronger expectations of US Fed tightening pressured bullion. ICICI Global Markets sees domestic gold trading in a ₹1.40 lakh–₹1.60 lakh range through the rest of 2026, with festive demand offering support.
What happened
MCX gold fell ₹3,500 per 10 grams this week as Fed tightening expectations and higher US yields weighed on bullion. ICICI Global Markets expects domestic gold
Key facts
- ₹3,500 per 10 grams weekly decline
- ₹1,50,891 per 10 grams
- ₹1,597 previous-week gain
- ₹1,40,000-₹1,60,000 per 10 grams forecast range
- remainder of 2026
What changed
MCX gold fell ₹3,500 per 10 grams this week as Fed tightening expectations and higher US yields weighed on bullion. ICICI Global Markets expects domestic gold to trade between ₹1.40 lakh and ₹1.60 lakh per 10 grams through 2026, with festive demand supportive.
Why this matters
Jewellery retailers should use the ₹3,500 weekly gold correction to stimulate festive purchases while tightening inventory and hedging discipline amid a projected ₹1.40 lakh–₹1.60 lakh trading range.
What to watch
- US Treasury yield moves, Fed guidance and the US dollar index.
- MCX gold holding above or breaking below the ₹1.40 lakh-₹1.60 lakh range.
- Wedding-season and festive-period jewellery footfall, advance bookings and old-gold exchange volumes.
- Retailer commentary on gold-weight growth, studded-jewellery mix, making charges and inventory hedging.
- Rupee movement, import-duty changes and domestic gold premium/discount trends.