Weekly Gold Review: COMEX futures see volatile moves, strength in INR weighs on local prices

Gold saw volatile trades and tested around two and half month low under $4100 per ounce after US inflation reading showed elevated prices and boosted the US dollar. Bullion futures remained vulnerable to expectations of tighter US monetary policy. However, comforting comments from some Fed officials chairman Kevin Warsh lifted the metal up as the US dollar index slipped to one week low and long-term treasury yields also eased from two-decade high. The yellow metal ended at $4186 per ounce, down marginally on the week. Meanwhile, Indian bullion demand trends are reflecting a moderation. India's Gold imports came in at Rs 17187 crore in value terms in September 2026, tanking around 80% compared to September 2025. Silver imports value slipped 45% on year to Rs 6349 crore in September 2026. Gold imports value in first half of FY27 fell by 20.70% on year to Rs 182994 crore while Silver imports during the same period dropped 18.15 to Rs 22923 crore. On a monthly basis, Gold import value dipped 21.66% while Silver imports lost around 35%. MCX Gold futures stayed mostly in a range and tested lows under Rs 146000 per 10 grams as the Indian Rupee saw impressive gains.

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