{
  "type": "article",
  "title": "Hawkish Fed Drags MCX Gold Down Rs 1,862 as Spot Prices Sink to Seven-Month Low, Silver Stages Partial Comeback",
  "summary": "A sharp sell-off in the global bullion market pushed spot gold to a seven-month low and knocked MCX gold down Rs 1,862 per 10 grams, while silver recovered part of its early slide.",
  "content": "Gold lost its shine in the domestic bullion market on Tuesday, with prices in India falling steadily on the back of heavy selling pressure across global markets. Spot gold slipped below $4,100 an ounce, while spot silver dropped below $62 an ounce. Both precious metals shed between 1% and 2%.\n\nThe biggest trigger behind the slide is the hawkish stance of the US Federal Reserve. Expectations of interest rates staying higher have outweighed the support that bullion was drawing from the interim US-Iran peace agreement.\n\nFed Decision Tightens the Squeeze\nAt its latest policy meeting, Fed officials left interest rates unchanged but signalled growing support for future rate hikes. New Fed Chair Kevin Warsh reaffirmed his commitment to restoring price stability. At the same time, progress in talks between Washington and Tehran has encouraged a rise in traffic through the Strait of Hormuz, easing pressure on global energy supplies and lowering the risk of inflation.\n\nSelling pressure on gold intensified further as US technology stocks fell sharply. To offset losses elsewhere in their portfolios, investors trimmed their bullion holdings, adding to the downward pull on the metal.\n\nHow MCX Gold and Silver Fared\nOn the MCX, gold traded at Rs 1,44,667 per 10 grams, registering a steep fall of Rs 1,862, or 1.3%. The metal hovered close to its intraday low of Rs 1,44,114 per 10 grams.\n\nSilver, which had tumbled by nearly Rs 3,500 in early trade, clawed back some of its losses. At the time of writing, MCX silver stood at Rs 2,24,741 per kilogram, down 0.5%. It had touched an intraday low of Rs 2,21,658 at the opening bell.\n\nSpot Market Hits a Seven-Month Low\nSpot gold dropped by about 1.12% to slip below $4,070 an ounce, breaking the $4,100 mark and falling to its lowest level in seven months. Spot silver, meanwhile, fell around 1% on fears of tighter Fed policy. Unlike gold, silver dropped to a six-month low.\n\nA stronger dollar index also kept pressure on bullion prices. Markets are factoring in the possibility of future rate hikes, while uncertainty around the US-Iran talks has kept sentiment cautious.\n\nThe Role of Crude Oil and Hormuz\nUS WTI crude oil also fell nearly 1%. The decline was driven by the advancing US-Iran peace agreement, growing transit through the Strait of Hormuz, and the likelihood of complete peace in the Middle East conflict. The International Maritime Organization said it had received security assurances that could allow hundreds of vessels to leave the Persian Gulf via Hormuz, as efforts continue to evacuate thousands of seafarers. According to the IEA, UAE oil exports rebounded in early June to nearly 85% of pre-conflict levels, supported by pipelines, storage facilities and alternative shipping routes.\n\nWhat Lies Ahead\nMarkets are now focused on next week's US Non-Farm Payrolls and unemployment data, which could set a fresh direction for both gold and the dollar. According to Jateen Trivedi, VP Research Analyst for Commodity and Currency at LKP Securities, gold is likely to trade in the Rs 1,44,500 to Rs 1,48,500 range in the near term.\n\nWhat this means for you\n• For buyers: Falling gold prices make jewellery and coins cheaper, which could turn out to be a good buying opportunity.\n• For investors: With gold at a seven-month low and silver at a six-month low, volatility is likely to persist, and next week's US data will be key.\n\nQuestions & Answers\n\n1. How much did MCX gold fall?\nMCX gold dropped Rs 1,862, or 1.3%, to trade at Rs 1,44,667 per 10 grams.\n\n2. What level did spot gold reach?\nSpot gold fell about 1.12% to slip below $4,070 an ounce, hitting a seven-month low.\n\n3. Did silver fall too?\nSilver had tumbled nearly Rs 3,500 in early trade but recovered to Rs 2,24,741 per kilogram on the MCX, down 0.5%.\n\n4. What is the main reason for the price drop?\nThe Fed's hawkish stance and expectations of future rate hikes pressured gold, while a sharp fall in US tech stocks added to the selling.\n\n5. What is the near-term outlook for gold?\nAccording to Jateen Trivedi of LKP Securities, gold is likely to trade in the Rs 1,44,500 to Rs 1,48,500 range in the near term.\n\n6. What is the market watching next?\nNext week's US Non-Farm Payrolls and unemployment data, which could set a fresh direction for gold and the dollar.",
  "url": "https://trendkia.com/en/market/pheda-ke-sakhta-rukha-se-sona-dharama-mcx-para-1-862-rupaye-tuta-chandi-ne-ki-halki-vapasi-2604",
  "category": "Market",
  "publishedAt": "2026-06-24",
  "tags": [
    "gold price",
    "silver price",
    "MCX gold",
    "Fed policy",
    "bullion market",
    "crude oil",
    "Kevin Warsh"
  ],
  "language": "en",
  "site": "TrendKia"
}