Gold Rebounds 1.62 Percent After Recent Pressure; Indian Equities Remain Subdued Amid Elevated Yields: Aetram Group
Gold Rebounds 1.62% After Recent Pressure; Indian Equities Remain Subdued Amid Elevated Yields: Aetram Group
Chennai (Tamil Nadu) [India], October 3: Gold staged a strong recovery during the completed September 29 session, rebounding from recent weakness as prices stabilised near multi-week lows. International spot gold closed at $4,182.24 per ounce, gaining 1.62% for the day. Aetram India Research observed that the recovery reflected renewed demand at lower levels, although elevated U.S. Treasury yields and expectations surrounding Federal Reserve policy continued to restrict broader momentum.
International gold opened at $4,115.46, touched a high of $4,185.12 and a low of $4,113.19 before settling at $4,182.24. The U.S. 10-year Treasury yield closed near 5.255%, after reaching 5.293% during the session. MCX Gold also strengthened, closing at ₹149,712 compared with the previous close of ₹146,513, representing a 2.18% rise.
Aetram Research noted that gold’s rebound followed the sharp decline seen earlier, when rising Treasury yields and expectations of further U.S. monetary tightening had increased pressure on non-yielding assets. The recovery indicates buying interest emerging around lower price zones, but movements in Treasury yields, the U.S. dollar and upcoming inflation data remain important factors for the precious-metals outlook.
