Gold slides below $4700; MCX slips under ₹147000 mark

Gold came under pronounced selling pressure, decisively breaching the $4700 level and sliding to a six-week low, as the resurgent dollar and the Federal Reserve?s unwavering policy stance eroded the metal?s appeal. The dollar index reclaiming the 100 mark, alongside a sharp upswing in crude prices, has reignited inflationary concerns, reinforcing the narrative of a prolonged higher interest rate environment. Although intensifying geopolitical tensions injected a degree of safe-haven interest, the support proved fleeting, overwhelmed by the dominant macro forces of firm yields and persistent currency strength. On the domestic front, MCX gold mirrored the global downturn, retreating nearly 4% to hover around ₹1,47,494 per 10 grams, reflecting a market firmly gripped by bearish undertones.

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