Gold and Silver Prices Crash as US Fed Signals Potential Rate Hikes
Precious metal prices witnessed a sharp correction on the Multi-Commodity Exchange (MCX) this Thursday, triggered by hawkish signals from the US Federal Reserve. As traders brace for possible interest rate hikes later this year, both gold and silver have seen significant intraday declines.
The Fed Factor: Why Precious Metals Are Retreating
The primary driver behind the current market volatility is the stance of the US Federal Reserve. While the Fed chose to keep the policy rate unchanged in its latest meeting—maintaining the current range of 3.50%-3.75%—the underlying projections have spooked investors. According to recent data, nine out of the 19 US policymakers now believe a rate hike will be necessary before the end of the year.
In the world of commodities, rising interest rates generally exert downward pressure on gold. When the Fed raises rates, yields on interest-bearing assets like bonds and deposits increase, offering investors better returns elsewhere. This makes non-yielding assets like gold relatively less attractive, leading to the sell-off we are currently witnessing.
MCX Market Snapshot: Sharp Declines in Gold and Silver
The domestic impact on the Multi-Commodity Exchange (MCX) has been substantial. Silver futures for July 2026 delivery saw a massive drop of Rs 6,298, or 2.5%, settling at Rs 2,45,509 per kg. Gold futures for August 2026 delivery were not spared either, declining by Rs 1,600 to reach Rs 1,52,304 per 10 grams.
Interestingly, this downward trend occurred despite a separate bullish signal: easing oil prices following a US-Iran interim agreement. Usually, lower oil prices reduce inflation concerns, which can boost precious metal demand, but the "Fed fear" proved to be a much stronger market force this session.
Expert Technical Outlook and Trading Strategy
Market analysts suggest that while the immediate trend is bearish, specific support levels are emerging. Manoj Kumar Jain of Prithvi Finmart provides the following technical levels for traders:
Pour l'or :
- Niveaux de support : 152 800 Rs – 152 000 Rs
- Niveaux de résistance : 154 400 Rs – 155 500 Rs
- Stratégie : Après avoir atteint des sommets récents de 154 134 Rs, il est conseillé aux investisseurs de prendre leurs profits sur les positions longues existantes et d'attendre de nouvelles opportunités d'entrée dans la zone des 151 100 – 150 000 Rs.
Pour l'argent :
- Niveaux de support : 248 000 Rs – 244 400 Rs
- Niveaux de résistance : 255 000 Rs – 258 800 Rs
- Stratégie : Recherchez des opportunités d'achat dans la zone des 248 800 – 246 000 Rs, en maintenant un stop loss strict en dessous de 243 300 Rs.
Points clés
- Influence de la Fed : La perspective de hausses des taux d'intérêt aux États-Unis rend l'or et l'argent moins attractifs par rapport aux actifs rémunérateurs.
- Volatilité significative : L'argent a connu une forte baisse de 2,5 % sur le MCX, tandis que l'or a chuté de 1 600 Rs par 10 grammes.
- Conseils de trading : Les experts recommandent de prendre ses profits sur les positions actuelles et d'attendre des corrections de prix vers les niveaux de support établis avant de prendre de nouvelles positions.