Gold Dips Below ₹1.50 Lakh as Hawkish Fed Boosts Dollar

Gold prices have now slipped below Rs 1.50 lakh per 10 grams on MCX, extending a sharp two-day decline triggered by the Federal Reserve’s hawkish signals. On June 18 spot gold plunged more than 2% to $4,121.95/oz amid a firmer dollar and an 87% probability of a December rate hike. The sell-off continued into June 19, with MCX gold futures falling Rs 2,269 to Rs 1,49,309 and silver losing Rs 5,371 to Rs 2,32,201 per kg. Markets have also seen Goldman Sachs cut its year-end gold target to $4,900/oz. Seasonal Indian wedding demand has sparked limited bargain buying, yet analysts caution against fresh longs near current levels.