Gold prices slipped in the domestic futures market on Wednesday morning (September 10), as traders booked profits at elevated levels. The decline came even as optimism grew over a potential breakthrough in India-US trade negotiations, which has lifted overall market sentiment.

On the Multi Commodity Exchange (MCX), gold October futures were trading 0.24% lower at Rs.1,08,775 per 10 grams around 9:25 am. In contrast, silver showed resilience, with MCX December futures rising 0.34% to Rs.24,886 per kg at the same time.

Market analysts noted that concerns surrounding US tariffs have been a key driver of safe-haven demand for gold in recent weeks. However, the renewed possibility of a trade deal between India and the US has eased some of that risk sentiment, prompting traders to lock in gains.

Adding to the mix, investors remain focused on the upcoming US Federal Reserve policy meeting on September 17, where a 25 basis points rate cut is widely anticipated. Lower interest rates generally support gold prices by reducing the opportunity cost of holding the non-yielding asset.

Thus, while the short-term movement reflects profit-taking, the underlying factors—global trade uncertainties and dovish monetary policy expectations—continue to lend support to bullion.