Gold slips below Rs 1.55 lakh/10 gm on MCX, but global prices extend gains. What’s next?

Gold prices were mixed as domestic MCX futures slipped while international prices extended gains. On the MCX, October gold fell 0.6% to Rs 1,54,995 per 10 grams, with December and February contracts also down more than 0.5% and 0.7%. In contrast, spot gold and U.S. gold futures both rose 0.2%, supported by a softer U.S. dollar and fading expectations of a near-term Fed rate hike. Markets are now focused on the Federal Reserve’s latest meeting minutes for clues on policy direction. The article suggests gold is benefiting from renewed safe-haven demand, while silver also weakened on MCX. Near-term price action will likely hinge on Fed commentary and incoming U.S. data, which could further shift rate expectations and influence bullion demand.