Gold Rate Crashes! 24K Falls Rs 31,100/100g, MCX Drops Below Rs 1.50 Lakh? 29 April Gold Outlook Amid Fed Meet

Gold extended its losing streak in a sharp and dramatic move on the latest trading session, wiping out gains at a pace that caught investors off guard. The yellow metal, often seen as a safe haven in uncertain times, instead came under heavy selling pressure as global cues turned volatile, the US dollar strengthened and traders rushed to reassess risk amid shifting geopolitical and monetary signals.

Huge Crash in Gold Rate in India: 24K Drops By Rs 31,100 Per 100gm

In the latest trading session, 24 Karat gold prices fell significantly by Rs 278 per gram to Rs 15,093, compared to the previous level of Rs 15,371. This translates into a steep correction of nearly Rs 27,800 per 100 grams in a single day and around Rs 31,100 over the past two sessions.

Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram

24 Karat Gold Rate Today in India

On a broader scale, 8 grams of 24K gold was priced at Rs 1,20,744, while 10 grams stood at Rs 1,50,930. The 100-gram rate dropped sharply to Rs 15,09,300, reflecting continued selling pressure across retail demand segments.

22 Karat Gold Rate Today in India

The 22 Karat segment also witnessed similar weakness, falling Rs 255 per gram to Rs 13,835 from Rs 14,090. Prices for 8 grams stood at Rs 1,10,680, while 10 grams declined to Rs 1,38,350. The 100-gram price slipped to Rs 13,83,500, indicating sustained weakness in jewellery demand as well.

18 Karat Gold Rate Today in India

Meanwhile, 18 Karat gold dropped Rs 208 per gram to Rs 11,320 from Rs 11,528. The 8-gram price stood at Rs 90,560, while 10 grams was priced at Rs 1,13,200. The 100-gram rate fell to Rs 11,32,000, tracking the broader correction across all categories.

MCX Gold Breaks Below Rs 1.50 Lakh Mark; Check Latest MCX Gold Price

In the domestic futures market, gold witnessed its sharpest intraday fall in recent weeks. The near-month contract on the Multi Commodity Exchange of India (MCX) declined by Rs 3,040 per 10 grams, slipping below the psychological Rs 1.50 lakh level for the first time since April 7.

The contract touched Rs 1,48,681 per 10 grams, marking the steepest intraday correction since early April. The fall highlights rising volatility in the derivatives segment as traders react to global macroeconomic cues and geopolitical uncertainty.

Spot Gold Crashes Below Key Levels Globally

International bullion markets also witnessed a sharp sell-off. Spot gold fell more than 2% to $4,580 per ounce, hitting its lowest level since late March. The decline erased recent gains and pushed monthly performance into negative territory.

In the futures segment, COMEX gold dropped $125 per troy ounce to an intraday low of $4,681, marking a one-month low. The metal has now corrected nearly 6.8% from its monthly peak of $4,917, while month-to-date returns stand negative at around 1.92%.

Why Gold Prices Are Falling: Dollar Strength, Oil, and Geopolitics

The decline in gold is largely driven by a stronger US dollar and shifting global risk sentiment. Investors are closely tracking renewed diplomatic efforts around the US-Iran conflict, even as stalled negotiations and rising crude oil prices continue to keep inflation concerns alive.

Higher oil prices typically fuel inflation expectations, but in the current environment, dollar strength and profit-booking are outweighing safe-haven demand for gold. Traders are also cautious ahead of the US Federal Reserve policy decision scheduled for April 29, which is expected to guide the next major move in bullion markets.

Gold Rate Forecast, 29 April 2026 Amid Fed Rate Cut Decision? Check Technical Outlook

According to market experts, gold is currently trading in a corrective phase with key technical levels in focus.

"The Fed's April 29 decision remains the critical macro trigger. India's rupee weakened amid rising crude costs. Central banks globally continue accumulating gold, though at a slower pace. Institutional ETF demand stays structurally strong. Technically, gold faces resistance at $4,850 (~ Rs 1,55,000). A confirmed break above this level could open a path toward $5,000 (~ Rs 1,60,000). Immediate support is established at $4,650 (~ Rs 1,51,000)," Mr. Prithviraj Kothari, MD at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd.

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