Gold prices are trading near ₹151,000 per 10 grams as investors await the US Federal Reserve's policy meeting. With US Treasury yields reaching 5%, the yellow metal is under selling pressure. Market participants are now monitoring whether the ₹149,500 support level can hold against rising market volatility.
Gold prices are facing a challenging period as the precious metal tests critical technical support levels. On Tuesday, September 15, 2026, domestic 24K gold is trading in the range of ₹151,000 to ₹154,240 per 10 grams. This downward pressure comes as the market prepares for the US Federal Reserve’s policy meeting, scheduled for September 15–16.
Impact of Rising US Yields
The primary factor weighing on gold prices is the movement in US Treasury yields. The 10-year US Treasury yield has touched the 5% threshold, making gold less attractive to investors. Because gold does not pay interest or dividends, investors often prefer bonds or savings when yields on safe assets are high. A stronger US dollar, which typically moves inversely to gold, is further complicating the outlook for the precious metal.
Investors are closely watching the Federal Reserve’s upcoming commentary. Markets are currently pricing in a high probability, estimated at approximately 90%, of a 25-basis-point rate hike. Any indication of further monetary tightening or a 'higher-for-longer' interest rate stance from the central bank could place additional pressure on non-yielding assets like gold.
Technical Levels and Market Bias
From a technical perspective, the market is currently in a defensive mode. Traders have identified the ₹149,500 to ₹150,000 range as a pivotal support zone. This area serves as a critical floor; if the price sustains a breakdown below this level, it could trigger increased selling pressure, potentially pushing the metal toward lower targets.
While the current trend shows a bearish bias, some market experts note that geopolitical tensions in the Middle East continue to act as a partial buffer. These uncertainties provide a traditional 'safe-haven' floor for prices, which prevents a sharper collapse even when economic data pressures the metal.
What Investors Are Tracking
The immediate concern for market participants is the stability of the ₹149,500 support level. If prices fail to consolidate at this floor, the commodity may face further downside, with technical analysts pointing to lower support zones in the ₹144,000 to ₹147,700 band. Conversely, a recovery would require a clear shift in market sentiment, likely triggered by dovish commentary from the Federal Reserve or a retreat in US bond yields. For now, the market remains cautious, and the outcome of the two-day policy meeting will be the most significant driver for the week.