New Delhi – Gold fell after a nine‑week winning streak ended this week, as traders re‑assess a rally that had pushed prices into over‑demanded territory.
The 24‑carat price for 10 grams closed at ₹1,22,419 on Friday, down from ₹1,23,827 the previous day. In the U.S., spot gold slid 0.3 % to $4,113.05 per ounce in New York, leaving the market with a roughly 3.3 % weekly loss.
Gold had been falling slowly during the week after it closed last week at ₹1,30,874 for 10 grams. A sharp pullback surprised many, but the metal steadied on Friday thanks to a weaker‑than‑expected U.S. inflation report. The lower inflation reading lifts hopes that the Federal Reserve will keep easing policy, which has a supportive effect on gold prices.
The softer inflation data also nudged bond yields lower, which typically lifts precious‑metal prices. Analysts now expect two more Fed rate cuts before year‑end, a forecast that has been boosting gold demand.
Investors are watching the upcoming U.S.–China talks between President Donald Trump and President Xi Jinping. If trade tensions ease, the need for safe‑haven assets like gold could shrink, giving traders more room to sell.
Gold’s recent correction came after a strong rally that began in mid‑August and peaked at $4,381.52 per ounce on Monday. Profit‑taking and big‑scale withdrawals from gold‑backed ETFs added to selling pressure.
Year‑to‑date, gold is up about 57 % worldwide, driven by central‑bank purchases, dovish cues from the Federal Reserve, and significant inflows into ETFs.
A Ventura Securities report earlier this week highlighted that gold has returned roughly 63 % in rupee terms since last Dhanteras. The firm also projects a potential rally to ₹1.5 lakh per 10 grams by 2026.
Gold traders will keep a close eye on U.S. inflation, Fed policy decisions, bond yields, and the business of U.S.–China trade – all of which shape the metal’s short‑term path.
Source: ianslive
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