Gold Slips After IMF 'Disorderly' Bond Warning; US CPI Eyed — SkimNews
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- Spot gold slipped 0.6% to $4,170.62 per ounce on Tuesday after hitting a one-week high Monday, pressured by a firmer dollar and higher oil prices
- The IMF warned government bond yields could spike 'disorderly' as inflation rises, debt mounts, geopolitical uncertainty intensifies, and AI-related borrowing pressures weigh on sovereign bond markets
- US gold futures for December delivery dropped 0.5% to $4,195.10 per ounce
- Investors await Fed Chair Kevin Warsh's remarks alongside key US inflation data later this week for monetary policy clues
- MCX gold traded 0.11% higher at ₹1,49,930 per 10 grams and MCX silver gained 0.16% to ₹2,23,640 per kg, even as Indian retail gold rates stayed flat across major cities
- 10g of 24K gold in Delhi has rallied 20.78% over the past year from ₹1,27,460 to ₹1,51,640, fueled by Middle East tensions including recent Houthi attacks on Riyadh airport and the Russia-Ukraine war
Why it matters: For Indian gold buyers, the 20.78% annual price surge in Delhi from ₹1,27,460 to ₹1,51,640 per 10g shows geopolitical risk and Fed uncertainty have already been priced in, leaving retail rates flat on Tuesday as traders hold steady awaiting this week's US inflation print and Kevin Warsh's remarks for the next directional cue.
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