MCX Gold Slips Near Rs 1.42 Lakh Amid US Fed Rate Decision

The MCX Gold contract price has dropped to near Rs 1.42 lakh after the US Federal Reserve kept its benchmark federal funds rate steady at a restrictive target range between 3.5 per cent and 3.75 per cent.

The decision, led by newly minted Chair Kevin Warsh, was not unanimous with three regional presidents dissenting in favour of an immediate 0.25 per cent rate hike.

Aamir Makda, Commodity & Currency Analyst at Choice Broking, noted that the Federal Reserve's decision has injected complex crosswinds into the global gold market.

Makda said that investors are shifting their focus to upcoming economic data, including US Personal Consumption Expenditure (PCE) and advance estimate for Q2 2026 GDP.