Gold falls below $4,200; rupee slide cushions MCX losses

Gold fell more than 1% below $4,200 an ounce in Asian trade on Wednesday, surrendering the previous session?s gains as a rebound in oil prices revived inflation and interest-rate concerns. Renewed risks to Middle East energy supplies, including heightened tanker attacks in the Strait of Hormuz, kept Treasury yields elevated amid persistent inflation, fiscal pressures and heavy AI-related debt issuance. The dollar index held above 102 ahead of the Fed minutes, while softer inflation and jobs data have prompted some policymakers to adopt a less hawkish tone. On MCX, December gold futures slipped 0.4% to ₹1,49,350 per 10 grams, with the rupee?s slide toward 97 per dollar cushioning the domestic decline. The RBI?s 25-basis-point rate hike to 5.50% and shift toward ?calibrated tightening? also kept inflation risks in focus.

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