MCX Gold Futures Plummet 6% in Brutal Intraday Crash to ₹1,43,844 Amid Global Bullion Rout
The Indian bullion market witnessed an extraordinary "blood bath" today as MCX Gold futures crashed by over ₹9,180, a staggering 6% decline, to trade at ₹1,43,844 per 10 grams. This vertical drop, as seen in real-time exchange data, follows a devastating technical breakdown below the critical ₹1,47,000 psychological support level. The sell-off was ignited by the US Federal Reserve's hawkish "higher-for-longer" interest rate stance, which sent US 10-year Treasury yields surging to 4.25%. The crash was further compounded by a massive spike in the US Dollar Index (DXY) to 100.50, effectively throttling global demand for dollar-denominated assets. In the physical market, Indian dealers reported discounts hitting a decade-high of $83/oz as retail buyers remained sidelined by extreme volatility. With COMEX Gold diving below $4,600/oz, this widespread long liquidation marks a significant shift in market sentiment. If current momentum persists, the next technical floor...