Gold slips below $4,000 as risk appetite weakens
Gold fell 4.17% to $3,994 an ounce as Brent crude rose 6.78% to $117.39, complicating the inflation outlook. Indian equities recovered on 29 Oct, but Nifty and Bank Nifty remained lower over 20 sessions.
after close1 source ↓machine-written, see hownot a recommendation
- BANKNIFTY close
- ₹54,910
- On the day
- +1.18%
- 52-week high
- ₹56,671
- 52-week low
- ₹53,626
Gold ended the completed trading week below $4,000 an ounce as higher crude prices complicated the inflation outlook and reduced confidence in near-term monetary easing. International spot gold closed at $3,994 an ounce, down 4.17%, while MCX gold futures fell 3.95% to ₹1,42,150 per 10 grams. The retreat showed that softer bond yields alone were not enough to revive demand for the precious metal.
The pressure extended across major markets. Brent crude rose 6.78% to $117.39 a barrel, raising concerns that energy-led inflation could remain persistent and limit the scope for easier policy. The U.S. 10-year Treasury yield was near 4.99% for the week ended 23 Oct 2026, compared with approximately 5.10% previously. Gold’s decline alongside lower yields suggests that inflation risks and commodity-market volatility outweighed the usual support from falling yields. Energy ⚡ and precious-metals markets therefore remain closely linked to expectations for interest rates and real returns.
Indian equities also faced a cautious backdrop, although the latest session showed a recovery. OI Charts data for 29 Oct 2026 showed the Nifty closing at ₹22,937, up 1.05% on the day, with volume of 344,482,095. The Bank Nifty rose 1.18% to ₹54,910 on volume of 332,955,378. Despite the daily rebound, the Nifty remained down 0.9% over 20 sessions, while the Bank Nifty was lower by 1.2% over the same period. The five-session moves were more contained: Nifty gained 0.2%, while Bank Nifty declined 1.0%.
Traders will watch whether crude remains above $117 a barrel, whether Treasury yields continue to ease, and whether gold can reclaim the $4,000 level. In equities, the Nifty’s recent 52-week low near ₹22,180 and high near ₹23,489, along with Bank Nifty’s ₹53,626 low and ₹56,671 high, frame the broader range. A sustained improvement in yields and energy prices would ease the macro pressure, while renewed commodity inflation would keep the cautious outlook in focus. Markets
Source: TheWire.in, 30 Oct 2026
Not investment advice. For informational purposes only.