Gold futures crash over ₹38,600 from record high amid market volatility

Gold futures settled 21.43% lower at ₹1,42,024 on Friday on the Multi Commodity Exchange, plunging more than ₹38,600 from their January peak of ₹1,80,779 per 10 grams.

International gold fell about 4% over the week below the $4,000-per-ounce mark, pressured by Middle East tensions, rising crude oil prices, persistent US inflation, and tech stock liquidations.

Commodity analysts recommend gradual accumulation during price weaknesses ahead of Diwali and the wedding season, noting that ₹1,40,000 serves as a crucial technical support level.