Gold rate today: The MCX gold rate witnessed strong buying post-Jerome Powell’s speech at the Jackson Hole Symposium on Friday. The MCX gold rate (October 2025 expiry) finally finished ₹956 per 10 gm higher and regained the psychological ₹1 lakh mark on a closing basis. In the international market, the COMEX gold price finished 1.09% upside at $3,418.50 per troy ounce.
According to market experts, Jerome Powell’s speech at the Jackson Hole Symposium has triggered hopes for a cut in the US Fed rate. They said the market expects a 25 bps rate cut in the following US Fed meeting in September 2025. Falling US dollar rates may trigger gold buying on MCX and the international market. They suggested investors remain vigilant about the existing hurdle at ₹1,01,400 for the MCX gold rates and $3,410 per troy ounce levels. Breaking above these levels on a closing basis may trigger a fresh bull trend in gold prices worldwide.
US Fed rate cut trigger
Pointing towards the US Fed rate cut hopes after Jerome Powell’s speech at the Jackson Hole Symposium, Sugandha Sachdeva, Founder of SS WealthStreet, said, “Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole Symposium have strengthened expectations of a much-awaited US Fed rate cut at the September FOMC meeting, following nearly eight months of policy status quo. His signal that the Fed is prepared to adjust rates in response to a cooling labour market triggered a sharp 0.90% drop in the US dollar index during the last trading day of the week, lifting gold prices. A weaker dollar generally enhances the appeal of gold as an alternative investment.”
Sugandha said that persistent pressure from US President Donald Trump on the US Fed to ease policy further reinforces the likelihood of accommodative measures ahead.
Echoing with Sugandha Sachdeva’s views, Ross Maxwell, Global Strategy Lead at VT Markets, said, “Jerome Powell signalled that the Fed remains data-dependent and open to adjusting rates if economic conditions allowed for it. This increased the chance of a rate cut in September and a further cut later in the year. This allowed for a boost to MCX Gold prices immediately after, as traders looked to take advantage of cheaper Gold prices after the USD weakened. Traders are advised to stay cautious, watching for further clarity on US inflation and rate signals.”
Ross Maxwell of BT Markets said that Powell’s tone kept gold traders on alert and delivered some short-term bullish momentum. However, we will need to be cautious and watch for further data to confirm if this is a larger bullish trigger. The MCX gold rate is likely to remain sensitive to USD movements led by future economic data and any future commentary from the FED.
Gold price outlook
On the outlook of gold prices across bourses, Sugandha Sachdeva said, “On the technical front, gold price is finding strong support at ₹97,000 and ₹98,200 per 10 gm in the domestic market, while key international support levels are pegged at $3,310 and $3,280 per ounce. While near-term volatility cannot be ruled out, the broader bias remains constructive as long as these support zones are respected. A sustained breakout above ₹101,400 per 10 gm in the domestic market and $3,410 per ounce internationally would open the door for further upside momentum in gold.”
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
