Gold on the MCX has fallen more than ₹38,600 from its record high of ₹1,80,779 per 10 grams set on 29 January 2026, with futures settling at ₹1,42,024 on Friday. Internationally, gold dropped around 4% in the week, its steepest weekly fall since June, and slipped below $4,000 an ounce for the first time since mid-July. Experts linked the sell-off to weakness in US AI-linked tech stocks, which triggered margin calls and forced investors to sell precious metals, alongside high crude prices and inflation concerns. Ponmudi R of Enrich Money sees ₹1,40,000 as a crucial support level, while Aamir Makda of Choice Broking expects consolidation or a mildly bearish bias heading into Diwali 2026.
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Related tickers and likely impact
PAXG/USDT
▼ Likely negativePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/24/2026 | 4,004.01 |
| Change that session | +0.01% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.2B |
| Close on 10/24/2026 | 3,994.05 |
| Change that session | 0.00% |
XAU/USD
▼ Likely negativeRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/23/2026 | 3,995.78 |
| Change that session | -0.72% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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