Chennai (Tamil Nadu) [India], October 2: Gold staged a strong recovery during the completed September 29 session, rebounding from recent weakness as prices stabilised near multi-week lows. International spot gold closed at $4,182.24 per ounce, gaining 1.62% for the day. Aetram India Research observed that the recovery reflected renewed demand at lower levels, although elevated U.S. Treasury yields and expectations surrounding Federal Reserve policy continued to restrict broader momentum.
International gold opened at $4,115.46, touched a high of $4,185.12 and a low of $4,113.19 before settling at $4,182.24. The U.S. 10-year Treasury yield closed near 5.255%, after reaching 5.293% during the session. MCX Gold also strengthened, closing at ₹149,712 compared with the previous close of ₹146,513, representing a 2.18% rise.
Aetram Research noted that gold’s rebound followed the sharp decline seen earlier, when rising Treasury yields and expectations of further U.S. monetary tightening had increased pressure on non-yielding assets. The recovery indicates buying interest emerging around lower price zones, but movements in Treasury yields, the U.S. dollar and upcoming inflation data remain important factors for the precious-metals outlook.
Indian equities, meanwhile, ended moderately lower after a volatile session. The Sensex closed at 72,529.07, down 0.33%, while the Nifty 50 settled at 22,716, declining 0.28%. Bank Nifty closed at 54,259.95, lower by 0.39%. Realty fell 2.00%, IT declined 1.48%, Auto lost 1.33% and FMCG dropped 1.05%. Metal advanced 0.78%, Pharma gained 0.64% and Media ended 0.11% higher.
Aetram Research maintains a cautious near-term view on Indian equities as elevated crude prices, high global bond yields and foreign institutional flows remain key variables. For the Nifty, the 22,600 region remains an important support area, while recovery strength needs to be assessed around the 22,750–22,850 resistance zone. Gold may remain sensitive to movements in U.S. yields, the dollar and forthcoming U.S. inflation indicators.
About Aetram Trades
Aetram Trades Private Limited is a Chennai-headquartered brokerage firm offering trading and investment services across Indian financial markets. The company is registered with SEBI (Registration No. INZ000309838) & is also a SEBI Registered Research Analyst (Registration No. INH000024222). The company is also a member of NSE (90356), BSE (6832) and MCX (57110). It is registered with AMFI under ARN-281894. Aetram Trades is a member of MCX and is not a member of NCDEX.
Registered office: No. 113-134, Unit No. 308, 3rd Floor, Beta Wing, Raheja Towers, Anna Salai, Chennai, Tamil Nadu 600002.
Website: www.aetramtrades.in