Gold prices moved lower on Monday, September 21, 2026, as elevated U.S. Treasury yields and a firm dollar reduced the appeal of the precious metal, which does not generate interest income. In early Asian trading, COMEX gold was around $4,416 an ounce, down roughly 0.2%, while India's domestic futures market also came under selling pressure; MCX October gold futures were trading near ₹1,53,393 per 10 grams around midday, down ₹988, or 0.64%, from the previous close. The pressure on bullion comes as investors reassess the outlook for U.S. monetary policy following the Federal Reserve's latest rate increase. Higher bond yields generally raise the opportunity cost of holding gold because investors can earn interest from government securities, while a stronger U.S. dollar can make dollar-denominated bullion more expensive for buyers using other currencies. Gold nevertheless continues to receive some support from geopolitical uncertainty and safe-haven demand, leaving the market caught between higher-rate expectations on one side and global risk concerns on the other. Investors are now closely watching upcoming U.S. manufacturing and services data, housing indicators, durable-goods orders, consumer sentiment and Federal Reserve commentary for fresh clues about the future path of interest rates. With bond yields, the dollar, inflation expectations and geopolitical developments all pulling prices in different directions, volatility in gold could remain elevated in the near term.
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