Gold Prices Under Pressure Amid Interest-Rate-Hike Speculation

Precious metal futures remained under pressure on September 29, 2026, following a sharp break in prices amid interest-rate-hike speculation ahead of US economic data releases. The gold October 5 contract on the Multi Commodity Exchange (MCX) opened with a drop of Rs 28 at Rs 1,46,776 per 10 grams against the previous close of Rs 1,46,804.

However, it later picked up momentum and touched an intraday high of Rs 1,46,963, a gain of Rs 159 or 0.10 percent. Last seen, it traded at Rs 1,46,599, down Rs 205 or 0.14 percent. In between, it touched the low of Rs 1,45,538.

The yellow metal futures for December 2026 were down by Rs 57 or 0.04 percent to trade at Rs 1,48,840 per 10 grams in business turnover of 14,840 lots. Ponmudi R, CEO of Enrich Money, noted that the immediate resistance level is at Rs 1,50,000-150,700, followed by Rs 152,000-152,600.