MCX Gold Price Today: Gold Falls Below Rs 1.5 Lakh, Down Rs 2,517 or 1.65% to Rs 1,49,926 From Rs 1,52,443

Gold prices witnessed sharp selling pressure on June 10, with MCX Gold slipping below the important Rs 1.5 lakh per 10 grams mark. The decline came amid weakness in global bullion markets, profit booking by traders, and a stronger US dollar, pushing domestic futures lower in early trade. Investors are now closely watching key support levels as volatility remains elevated in the precious metals segment. 

MCX Gold Drops Rs 2,517 in a Single Session

MCX Gold futures traded at Rs 1,49,926 per 10 grams, down Rs 2,517 from the previous close of Rs 1,52,443, marking a decline of 1.65%. The fall pushed gold below the psychological Rs 1.5 lakh level, a zone that traders had been monitoring for support. The intraday range remained wide, with prices moving between approximately Rs 1,51,960 and Rs 1,55,451, highlighting increased volatility in the bullion market. 

Why Is MCX Gold Falling Today?

According to market reports covered by Moneycontrol, the decline in gold prices is linked to a broader global selloff in precious metals and increased profit booking after gold’s strong rally in recent months.

A stronger US dollar and expectations that global interest rates could remain elevated for longer have reduced the appeal of non-yielding assets such as gold. Higher bond yields also increase the opportunity cost of holding bullion. 

Key Support Levels to Watch After MCX Gold Falls Below Rs 1.5 Lakh 

Even after the sharp correction, MCX Gold remains significantly above its longer-term average levels. Recent market data show the 1-month low near Rs 1,51,500, while longer-term averages remain above Rs 1,50,000, indicating that gold is still trading at historically elevated levels despite the latest decline. 

Investors Also Ask: What Happened to Silver Prices?

Silver also remained under pressure alongside gold. Recent MCX Silver contracts recorded declines of over Rs 4,500 per kilogram in previous sessions, reflecting broader weakness across the precious metals complex. Market sentiment in both gold and silver continues to be influenced by inflation expectations, central bank policy signals, and currency movements. 

Market Review: What Analysts Are Watching Next

Analysts believe the fall of MCX Gold below Rs 1.5 lakh is an important short-term development, but it does not automatically signal the end of the broader bullish trend. Gold has delivered substantial gains over the past year and remains supported by global economic uncertainty, central bank buying, and inflation concerns. However, near-term pressure could continue if the US dollar stays firm and bond yields remain elevated. Traders are now watching whether gold can hold above the Rs 1.49 lakh to Rs 1.50 lakh zone. A sustained move below this area may trigger additional selling, while a recovery above Rs 1.52 lakh could attract fresh buying interest. Investors should monitor global macroeconomic data, US Federal Reserve commentary, and international bullion prices for the next major directional move in gold. 

Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.