Gold Extends Correction, Down 25% From 2026 Peak

19-Jun-26   14:33 Hrs IST
Gold futures slipped below $4,200 an ounce in electronic trading as a stronger US dollar and rising Treasury yields weighed heavily on the precious metal. The selloff followed hawkish signals from the Federal Reserve, with policymakers indicating growing support for at least one rate hike in 2026 while raising inflation forecasts. The stronger dollar index, which climbed near 101, increased the opportunity cost of holding non-yielding assets such as gold. As a result, bullion has fallen nearly 25% from its 2026 peak above $5,500 an ounce. On the domestic front, MCX August gold futures declined more than 1% to Rs 147,756 per 10 grams, reflecting weakness in global bullion markets amid expectations of a higher-for-longer interest rate environment.

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