Gold prices rose strongly on Friday after US Federal Reserve Chair Jerome Powell spoke at the Jackson Hole Symposium. On the MCX, October 2025 gold ended ₹956 higher per 10 gm, crossing the psychological ₹1 lakh mark. Internationally, COMEX gold went up 1.09% to $3,418.50 per troy ounce.
Why Gold Prices Rose
Powell’s speech hinted that the US Fed might cut interest rates in the upcoming September meeting. Experts say a weaker US dollar makes gold more attractive, which encouraged buying in both domestic and international markets.
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Market analysts suggest keeping an eye on ₹1,01,400 per 10 gm for MCX gold and $3,410 per troy ounce internationally. If gold closes above these levels, it could trigger a new bullish trend.
Experts’ Views
- Sugandha Sachdeva, Founder of SS WealthStreet, said Powell’s remarks boosted hopes for a Fed rate cut after nearly eight months of no change. She added that a weaker dollar increases gold’s appeal as an alternative investment.
- Ross Maxwell, Global Strategy Lead at VT Markets, said Powell’s comments were data-dependent, meaning the Fed could adjust rates based on economic conditions. This gave gold a short-term boost, but traders should remain cautious until more data comes in.
Gold Price Outlook
According to analysts, gold has strong support levels at ₹97,000–₹98,200 per 10 gm in India and $3,280–$3,310 per ounce internationally. Prices may fluctuate in the short term, but if gold breaks above ₹1,01,400 in India or $3,410 internationally, it could continue rising.
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Note: These are expert opinions. Investors should consult certified financial advisors before making investment decisions.
