12-May-2025      14:25

Gold capitulates below ₹93 000 as trade optimism erodes haven allure

Gold plunged over $100 to hover near $3230, with MCX futures dipping under ₹93 000 per 10 g on Monday. Renewed confidence in US-China trade talks drained bullion's safe-haven appeal, while the dollar index surged past 101.36, rendering gold costlier for overseas buyers. Treasury Secretary Scott Bessent is set to reveal further details soon, likely reinforcing risk-on flows. Despite the India-Pakistan ceasefire holding into Sunday, geopolitical calm offered little support. With risk appetite on the rise and the greenback charging ahead, gold's rally has been decisively checked.

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