Gold Mcx Future update on 23/10/2025 Price 1,23,500/- Per 10g MCX GOLD (DEC 2025 FUTURES) — QUICK MARKET UPDATE
As of 23 Oct 2025 · 13 : 25 UK / 17 : 55 IST
Last Trade: ₹ 1 23 500 (– 0.9 % intraday · heavy sell-off in progress)
Bias: Bearish | Market Regime: High-volatility unwind | Sentiment: Fear building
Market Pulse
Gold is sliding sharply as intraday longs unwind across MCX and COMEX.
The ₹ 1 24 000 support gave way within the last hour, triggering algorithmic selling and dealer gamma hedges.
At ₹ 1 23 500, the market has erased most of this week’s bounce and is back in line with the lower end of the October value zone.
Macro cues are unsupportive:
The US 10-year yield hovers near 4 %,
USD Index firm around 98.8,
ETF flows negative for a third week.
The combination keeps risk assets on the defensive and gold under pressure.
Technical Read
Structure: Lower-high sequence confirmed.
Daily EMAs: 21 < 55 < 89 < 200 → bearish alignment.
Immediate range: ₹ 1 22 800 – ₹ 1 24 200.
Momentum: RSI ≈ 42, MACD below signal → trend weakness intact.
Failure to hold ₹ 1 23 400 could open the door toward ₹ 1 22 900 and then ₹ 1 22 400.
Order Flow Snapshot
Large sell blocks have reappeared near ₹ 1 23 900 – ₹ 1 24 100.
Cumulative delta remains negative (≈ – 2 000 lots).
No evidence yet of strong absorption by physical or hedging accounts.
Cross-Asset Signals
Asset Last Change Comment
XAUUSD 4 102 $ – 0.2 % Mirrors MCX weakness
USD Index 98.8 + 0.2 % Dollar bid caps metals
US 10Y Yield 3.99 % + 0.8 % Real-rate headwind
Crude Oil (MCX) ₹ 5 425 + 5.3 % Inflation beta higher
Silver (MCX) ₹ 1 48 670 + 2 % Still outperforming gold
Strategy Desk View
Gold is now in short-term breakdown mode after a textbook failure at the ₹ 1 24 300 zone.
The path of least resistance is lower until buyers defend the ₹ 1 22 800 band.
Momentum traders remain short-biased; positional players can look to cover part-profits near ₹ 1 22 400 – ₹ 1 22 600.
Volatility likely to stay elevated as dealers remain short gamma.
Bottom Line:
The rally attempt is over for now. With the dollar firm and yields sticky, MCX Gold could retest the ₹ 1 22 000 area before stabilising.
Expect two-way volatility but the bias remains sell-on-rise until the market closes back above ₹ 1 24 600.
Disclaimer: This note is for market insight and educational purposes only, not investment advice.
Trade responsibly and manage risk.
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