Gold Prices Drop Amid US Inflation Data Anticipation

Gold prices dipped Rs 125 to Rs 1,12,430 per 10 grams in the domestic market, tracking a flat global trend as traders awaited critical US inflation data. Meanwhile, global gold and silver futures remained stable. Analysts attribute this to expected US rate cuts and geopolitical tensions.

On Thursday, gold prices experienced a drop of Rs 125, settling at Rs 1,12,430 per 10 grams in the domestic futures market. This decline reflects a cautious trend, as traders eye key US inflation data that could influence global economic decisions.

Trading on the Multi Commodity Exchange revealed a 0.11 per cent decrease for the October gold futures, amid a turnover involving 6,314 lots. Simultaneously, December contracts saw a Rs 147 slide to Rs 1,13,500 per 10 grams in 11,823 lots. Conversely, silver futures for December posted gains, while March 2026 contracts saw a slight increase.

Globally, the futures market showed stability with modest figures for both gold and silver. Analysts point to US central bank rate cut expectations as a stabilizing factor, tempered by geopolitical uncertainties from ongoing international conflicts. Close attention remains on US macroeconomic indicators, with significant releases providing potential market cues.

(With inputs from agencies.)