Gold tests key levels as MCX prices fall below ₹1.48 lakh

Gold futures slipped below $4,200 per ounce on Wednesday as investors awaited US CPI data for fresh clues on the Federal Reserve?s policy outlook, with PPI figures due Thursday. Bullion has remained confined to a narrow $4,091?$4,259 range so far in October, setting the stage for a potential breakout. While the dollar index held below 102, escalating Middle East tensions continued to support safe-haven demand, cushioning downside pressure. The IMF separately warned that a potential end to the AI investment boom, rising debt and a prolonged Middle East conflict could threaten global growth and financial stability. On MCX, December gold futures fell below ₹1,48,000 per 10 grams, moving further beneath the key ₹1,50,000 psychological threshold.

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