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Gold falls more than 26% from January record high

Market analysts said gold traded around $4,136 per ounce and MCX gold slipped below ₹1.50 lakh after the drop.

Reported · Written up by our desk · Precious Metals

Gold prices have pulled back more than 26% from their January peak of $5,595 per ounce, moving to around $4,100 per ounce, according to LiveMint Markets.

The outlet said the decline unfolded in stages rather than as a single uninterrupted move, with a recovery toward about $4,700 by late August before another slide.

LiveMint Markets reported that gold then fell from roughly $4,700 to about $4,250 by mid-September, losing nearly 10% in less than three weeks ahead of the FOMC meeting as inflation readings came in firmer than expected.

According to Kaynat Chainwala, AVP Commodity Research at Kotak Securities, the move has offered a “clearer read” on changing macro drivers, and analysts said valuations look relatively more attractive at current levels.

Latest closeGold $4,150.40 ▼0.3%

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