Gold Price Tumbles Below Rs 1.5 Lakh Amid Rising Yields and Rate Hike Fears

Gold prices have dropped below Rs 1.5 lakh per 10 grams as higher US yields and rate hike expectations weigh on the precious metal.

The October gold futures on the Multi-Commodity Exchange (MCX) were largely flat at Rs 1,46,740 per 10 grams as of September 29, after falling more than 5% this month.

Analysts differ on whether investors should buy now or wait, with some seeing this decline as a 'meaningful correction' rather than a 'routine pullback.'

Pinky Yadav, commodity fundamental analyst at Choice Broking, said that concerns over a possible Bank of Japan rate hike and the unwinding of the yen carry trade have added to market volatility.