Gold prices eased on Thursday, October 9, following a sharp rally that had pushed the precious metal to an all-time high earlier this week. The pullback came as investors booked profits amid signs of easing geopolitical tensions and expectations of U.S. interest rate cuts.
Spot gold slipped 0.4% to $4,020.99 per ounce as of 0302 GMT, down from Wednesday’s record of $4,059.05 an ounce. Meanwhile, U.S. gold futures fell 0.7% to $4,040.70 per ounce.
In India, prices stood at ₹12,415 per gram for 24-karat gold, ₹11,380 for 22-karat, and ₹9,311 for 18-karat, according to data from Goodreturns.
The decline followed a four-day rally that propelled gold beyond the $4,000 mark for the first time, supported by persistent inflation concerns and rising safe-haven demand. However, reports of a potential ceasefire between Israel and Hamas and an overbought technical setup led to short-term profit-taking among traders.
Minutes from the Federal Reserve’s September meeting indicated that policymakers are considering rate cuts amid slowing job growth, further shaping expectations for bullion’s performance ahead.
Gold remains one of the best-performing assets of 2025, having gained 54% year-to-date, driven by global economic uncertainty, currency volatility, and sustained demand from central banks and investors.
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