Gold Prices Extend Losing Streak to Fourth Session Amid US Monetary Policy Uncertainty

Gold prices in India continued their downward trend on Friday, extending losses for the fourth consecutive trading session. The Multi Commodity Exchange (MCX) saw gold futures for October delivery decline by Rs 896, or 0.56 per cent, to trade at Rs 1,58,100 per 10 grams.

The prices fell as much as 0.68 per cent, or Rs 1,085, to touch an intraday low of Rs 1,57,911 per 10 grams. This decline marks a loss of Rs 5,318, or 3.25 per cent, over the past four trading sessions on the MCX.

Market participants are closely watching signals from the US central bank on the future course of interest rates, which could influence demand for gold. The recent weakness in gold prices comes after a strong rally earlier in the week, with investors now assessing the outlook for US monetary policy and its potential impact on the dollar, bond yields, and demand for the safe-haven asset.