Gold Prices End Week on Firm Note Despite Fed's Hawkish Stance
Gold prices ended the week on a firm note, supported by easing crude oil prices that eased inflation concerns and boosted demand for the precious metal.
The price of 24-carat gold was around Rs 1,54,040 per 10 grams in Mumbai on September 19, while 22-carat gold was around Rs 1,41,100 per 10 grams. Silver prices were around Rs 2.42 lakh per kg on the same day.
However, gold futures saw some profit-booking on Friday, with MCX gold futures for October delivery declining by 0.84% to Rs 1,54,263 per 10 grams. Meanwhile, international spot gold rose to around $4,390 per ounce, marking its first weekly gain in four weeks.
The US Federal Reserve's hawkish stance and rising Treasury yields limited further upside for gold prices. Analysts expect the global silver market to record a sixth consecutive annual supply deficit in 2026, estimated at 46.3 million ounces.