Gold Futures Extend Losing Streak to Rs 1.5 Lakh per 10 Grams on US Dollar Strength

Gold futures have extended their decline for a fourth consecutive day on Thursday, reaching Rs 1.5 lakh per 10 grams. The Multi Commodity Exchange saw gold futures for October delivery fall by Rs 833, or 0.55%, to Rs 1,50,466 per 10 grams.

Aamir Makda, Commodity & Currency Analyst - Technical Research at Choice Broking, attributed the decline to a stronger US dollar and Treasury yields. He noted that the pressure on gold intensified after stronger-than-expected US private sector employment data raised inflation concerns and strengthened expectations of further interest rate hikes by the Federal Reserve.

The bearish global trend has kept investors away from the precious metal, leading to its prolonged decline.