Gold rate today: COMEX price slips below $4,000/ounce; ₹1.25 lakh/10 grams in India soon amid US Fed rate hike buzz?

COMEX gold futures slipped below $4,000 per ounce, with Indian domestic prices projected to approach ₹1.25 lakh per 10 grams, as market chatter around a possible US Federal Reserve rate hike gained traction. The transmission channel runs through real rates and the dollar: expectations of tighter policy lift US real yields and the dollar, raising the opportunity cost of holding non-yielding bullion and pressuring dollar-denominated prices. Gold is most directly exposed on the COMEX and in spot markets, while India is exposed through the rupee-dollar rate, since a stronger dollar lifts the rupee cost of imported bullion even as the global dollar price falls. The next catalyst traders will watch is the US consumer price index release and subsequent Fed communications, which will determine whether rate-hike expectations firm or fade.

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