Live Updates > Live Update Details
2026-09-18 19:16:12
[Gold Prices Continue to Rise Amid Fed Rate Hikes; Institutions Warn Against Blindly Chasing the Rally] ⑴ Gold prices rose for the third consecutive trading day. The rebound was supported by a decline in international crude oil prices, lower US Treasury yields, and limited gains in the US dollar index. The Indian MCX October gold contract rose another 1540 rupees per 10 grams, reaching a daily high of 153900 rupees, a cumulative increase of 3640 rupees in three days, potentially achieving two consecutive weeks of gains. ⑵ Gold's earlier decline this month has narrowed to 0.31%, recovering 4210 rupees from the month's low of 149200 rupees, showing strong upward momentum. Gold prices briefly weakened after the Fed raised interest rates by 25 basis points, but subsequently strengthened again driven by expectations of controlled inflation. ⑶ The US dollar index remains near a seven-week high, trading at 100.4 points. A stronger dollar typically suppresses gold consumption demand in non-US dollar currency regions. Currently, the US 10-year Treasury yield is approaching 4.96%, and Brent crude oil remains above $99 per barrel; these indicators could reverse the gold price trend at any time. (4) Industry institutions remind investors that the global interest rate outlook remains uncertain, and chasing gold prices directly is not recommended. Long-term investors can adopt a phased buying approach to mitigate volatility, and leveraged traders should reduce their positions and strictly set stop-loss orders. (5) Indian gold prices will also be affected by the local currency exchange rate. Furthermore, China's increased gold reserves and reduced holdings of US Treasury bonds, Middle East geopolitical tensions, and central bank gold purchases will continue to influence the future price trends of precious metals.
