Gold Futures Drop: US Payrolls Data & Interest Rate Outlook - Rediff MoneyWiz

AI desk brief

Gold futures fell Rs 431 to Rs 1,55,344/10g on MCX for October delivery, ending a two-day rally as traders booked profits and moved to the sidelines ahead of the US nonfarm payrolls report. Comex December gold was also slightly lower at $4,528.54/oz, with the market waiting for the data to set the next move in the dollar, Treasury yields and Fed rate expectations.

The setup is classic event-risk positioning: softer or weaker-than-expected payrolls could revive the case for lower real yields and support gold, while a firm jobs print would likely reinforce the recent pullback. For now, near-term price action looks driven more by caution than conviction, with participants reluctant to extend longs before a key US macro release.