Tag: Gold

  • MCX Gold and Silver Hold Steady as Fed Rate-Hike Bets Ease and Dollar Strengthens

    MCX Gold and Silver Hold Steady as Fed Rate-Hike Bets Ease and Dollar Strengthens

    Gold and silver prices on the Multi Commodity Exchange (MCX) remained largely unchanged on July 6, 2026, as a softer-than-expected US jobs report tempered expectations of further interest rate hikes by the Federal Reserve. However, a stronger US dollar capped gains for the precious metals.

    Domestic Prices

    August gold futures on MCX edged down by 0.02% to Rs. 1,47,351 per 10 grams, while September silver futures slipped 0.19% to Rs. 2,36,966 per kilogram. In the spot market, 24K gold fell by Rs. 11 to Rs. 1,46,620 per 10 grams, and 22K gold declined by Rs. 10 to Rs. 1,34,400. Regional prices varied slightly, with Mumbai and Kolkata quoting Rs. 1,46,620, Delhi at Rs. 1,46,770, and Chennai at Rs. 1,49,450.

    US Gold and Silver Markets

    Internationally, spot gold held steady near a two-week high at $4,174.66 per ounce, supported by a weaker dollar after last week’s job data. US gold futures for August delivery rose 1.5% to $4,186.70 per ounce. Meanwhile, spot silver fell 0.6% to $62.03 per ounce, pulling back from a June 23 high. Platinum declined 0.1% to $1,636.60 per ounce, and palladium lost 0.2% to $1,271.75 per ounce.

    Brent crude futures fell 0.41% to $71.41 a barrel, while US West Texas Intermediate (WTI) dropped 0.28% to $68.50 a barrel.

    Market Outlook and Key Levels

    According to the CME FedWatch Tool, traders now see a 55% chance of a rate hike in September, down from 60% previously. “Gold has regained some poise as markets dial back rate-hike expectations. While this provides relief on the yield front, the dollar’s strength continues to act as a ceiling,” said Tim Waterer, chief market analyst at KCM Trade.

    Manoj Kumar Jain of Prithvifinmart Commodity Research recommended buying gold on dips around Rs. 1,46,000–Rs. 1,45,000 with a stop loss below Rs. 1,43,850 for targets of Rs. 1,48,000 and Rs. 1,49,100. For silver, he suggested buying on dips around Rs. 2,34,400–Rs. 2,31,000 with a stop loss below Rs. 2,27,000 for targets of Rs. 2,41,000 and Rs. 2,44,000.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Analytics Insight does not provide financial guidance on cryptocurrencies or stocks. Readers should conduct their own research (DYOR) before making any investment decisions.

  • MCX Gold Climbs 1.47% to Rs 1,47,900 as US Jobs Data Eases Rate Hike Fears; Silver and Brent Also Gain

    MCX Gold Climbs 1.47% to Rs 1,47,900 as US Jobs Data Eases Rate Hike Fears; Silver and Brent Also Gain

    Gold prices rallied on the Multi Commodity Exchange (MCX) on July 3, buoyed by softer-than-expected US jobs data that lowered expectations for further Federal Reserve interest rate hikes. August gold futures surged 1.47% to Rs 1,47,900 per 10 grams, while September silver futures advanced 1.85% to Rs 2,37,630. In the energy market, Brent crude futures rose 0.61% to $72.34 a barrel, and US West Texas Intermediate (WTI) gained 0.47% to $69.01.

    According to the CME FedWatch Tool, traders now see a 54% probability of a rate hike in September, down from 66% previously. The shift in sentiment followed a lackluster US labor market report, which dampened hawkish Fed expectations and boosted demand for safe-haven assets like gold.

    Domestic Gold Prices

    In the Indian market, 24K gold increased by Rs 322 to Rs 1,47,000 per 10 grams, while 22K gold rose by Rs 295 to Rs 1,34,750. Regional variations were minimal: Mumbai and Kolkata quoted Rs 1,47,000, Delhi Rs 1,47,150, and Chennai Rs 1,49,500.

    US Gold Prices

    Internationally, spot gold climbed 1.4% to $4,179.94 per ounce, and US gold futures for August delivery gained 1.6% to $4,193.20. Spot silver rose 2.3% to $62.43 per ounce, platinum added 2.7% to $1,660.05, and palladium increased 1.3% to $1,284.40.

    Key Levels to Watch

    Kelvin Wong, senior market analyst at OANDA, noted that the market is pricing in fewer Fed rate hikes for the remainder of this year and early next year, driven by the weak US jobs data. However, he cautioned that rate hike expectations have not been completely erased, and gold could still face downside pressure, potentially testing the $3,500/oz level.

    On the international front, gold has support at $4,084 and $4,040 per troy ounce, with resistance at $4,180 and $4,240. Silver support stands at $59.40 and $58, while resistance is at $63 and $64.40. On MCX, gold support is at Rs 1,44,400 and Rs 1,43,350, with resistance at Rs 1,47,100 and Rs 1,48,800. Silver support on MCX is at Rs 2,33,000 and Rs 2,26,600, with resistance at Rs 2,37,700 and Rs 2,41,000.

  • Bitcoin and Gold Sink Together in 2026 as Market Pressures Mount

    Bitcoin and Gold Sink Together in 2026 as Market Pressures Mount

    Bitcoin and gold have both declined as higher interest rates, tighter liquidity, and market uncertainty reduced demand for traditional and digital stores of value. The rare move has raised attention because the two assets often follow different paths during market stress.

    Bitcoin and gold have fallen sharply in 2026, marking an uncommon period when two assets often viewed as stores of value declined together. Market strategist Charlie Bilello reported that Bitcoin is down 31% while gold has lost 6% this year, making them the weakest-performing major asset classes so far.

    The unusual move has drawn attention because the two assets have historically performed differently during periods of market stress.

    Bitcoin and Gold Record an Unusual Year

    Charlie Bilello reported that Bitcoin and gold have become the two worst-performing major asset classes in 2026. He described the development as something ‘we havenʼt seen before in any calendar year.’

    The simultaneous decline suggests investors have reduced exposure to both digital and traditional stores of value. Instead, capital has moved toward other asset classes that have delivered stronger returns during the year.

    Several factors have contributed to the shift. Market conditions have become more challenging in 2026 as investors respond to higher interest rates, tighter liquidity, geopolitical uncertainty and a rise in crypto-related security incidents. These factors have weakened demand for both Bitcoin and gold.

    Analysts also point to the stronger US dollar and the Federal Reserve’s restrictive monetary policy as key drivers behind the downturn. Higher borrowing costs have encouraged investors to shift toward income-generating assets, reducing interest in investments that do not produce regular yields.

    Correlation Between Bitcoin and Gold

    Bitcoin climbed above $110,000 during the second half of 2025 while gold continued to post steady gains. Even though both assets advanced, they responded to different market conditions and showed only a limited price correlation.

    The relationship changed during 2026. Bitcoin dropped from around $90,000 to nearly $60,000 after February. Gold held up better at first but later moved lower as well. By June, both assets were declining at the same time, pushing their price correlation into positive territory for one of the rarest periods on record.

    Data from CryptoQuant also showed noticeable changes in the Bitcoin-gold price correlation between June 2025 and June 2026. The correlation moved between positive and negative readings before strengthening as both assets declined together.

    Bitcoin researcher Adam Livingston commented on the trend, stating that “2026 is officially the most oversold year for Bitcoin versus gold ever recorded.” At the same time, the Bitcoin-to-gold ratio continued to weaken, reflecting Bitcoin’s larger decline compared with gold.

    Gold Outlook Remains Mixed as Market Uncertainty Continues

    Investor Robert Kiyosaki recently shifted his focus from Bitcoin to precious metals after discussing both assets earlier in June. On June 25, he announced that gold had “made the turn” and predicted a longer-term bull market for gold and silver while maintaining a $35,000 long-term price target.

    Days later, however, he revised his short-term view after gold extended its decline. On June 29, Kiyosaki admitted, “I was wrong. Gold still crashing.” Despite the setback, he maintained his longer-term bullish outlook for the metal.

    Gold has also faced pressure from changing geopolitical developments. Reports surrounding US-Iran nuclear negotiations reduced demand for safe-haven assets as some investors shifted toward riskier investments. At the same time, uncertainty over future Federal Reserve policy has continued to influence both gold and Bitcoin prices.

    Market participants are now watching central bank decisions, US dollar strength and geopolitical events for signs of whether the recent weakness in both assets will continue or begin to reverse.