Gold price crash today: Why is MCX Gold down over 2% , tell me about this news in (https://www.msn.com/en-in/news/other/why-are-gold-prices-crashing-today-mcx-gold-down-rs-320010-grams-plunges-over-2-top-reasons-for-fall/ar-AA2d61nT?ocid=BingNewsVerp)
28-09-2026
Here is a summary of the news report regarding the crash in gold prices:
What Happened to Gold and Silver Prices?MCX Gold: Gold futures tumbled over 2% (down around ₹3,200 per 10 grams) on the Multi Commodity Exchange (MCX).
MCX Silver: Silver futures mirrored the sell-off, dropping over ₹6,600 to trade near ₹2,28,035 per kg.
Global Markets: In international trade, spot gold slid roughly 1.5% towards $4,223 per ounce, alongside declines across other precious metals like platinum and palladium.
Surging US Treasury Yields
The primary trigger is a steep sell-off in US Treasuries. The US 10-year Treasury yield surged to 5.13% (its highest level since 2007) and the 30-year yield touched 5.44% (highest since 2004).
When bond yields rise, the opportunity cost of holding non-yielding assets like gold and silver increases, prompting investors to pull money out of bullion.
Crude Oil Surge & Sticky Inflation Fears
Crude oil prices pushed higher amid escalating geopolitical tension and mixed signals on global supply flows.
Higher oil prices heightened concerns around persistent inflation, which diminished the traditional safe-haven status of gold in favor of the US dollar and interest rate hedges.
Rising Bets on US Federal Reserve Rate Hikes
With stubborn inflation pressures reinforced by rising energy costs, CME FedWatch data indicated that market odds for another 25 basis point interest rate hike at the upcoming Federal Reserve meeting jumped to 68.1% (up from 31.9%). Expectations of higher-for-longer interest rates continue to strengthen the US dollar and put downside pressure on bullion.
Geopolitical Uncertainty and Peace Talks
Diplomatic negotiations and statements surrounding US-Iran tensions and the Strait of Hormuz created high volatility. Markets are heavily pricing the outcome of these talks; uncertainty over whether diplomacy will de-escalate tensions kept investors cautious.
Key Support & Resistance: Commodity analysts peg immediate support for MCX Gold around the ₹1,48,000 to ₹1,46,000 range, while resistance is seen between ₹1,51,400 and ₹1,55,000.
Next Drivers: The immediate trajectory of bullion will hinge primarily on the Federal Reserve’s interest rate path and concrete developments in Middle East diplomatic negotiations.