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Gold, Silver Retreat On MCX As Rising Yields and Oil Prices Prompt Profit-Taking

Despite The Abrupt Downturn, Market Observers View The Selloff As A Routine Correction Within A Broader Bull Market Rather Than A Fundamental Shift In Sentiment

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Gold and silver prices tumbled on Tuesday as a surging oil market and rising U.S. Treasury yields sparked a round of aggressive profit-taking, briefly sending domestic gold futures below the key threshold of 155,000 rupees per 10 grams on the Multi Commodity Exchange (MCX).

The October gold contract on the MCX slid to an intraday low of 154,925 rupees per 10 grams—down more than 1,000 rupees from its previous close—before paring losses to trade near 155,160 rupees, a drop of 780 rupees, or 0.50%, during the morning session. Silver futures experienced steeper selling pressure, falling by more than 2,600 rupees per kilogram as speculative traders scrambled to lock in recent gains.

The sharp pullback follows a sustained rally that pushed precious metals to multi-session highs. Tuesday’s retreat was catalyzed by a spike in crude oil prices, which reignited inflation fears and eroded market expectations for an immediate easing of U.S. monetary policy. Higher yields on U.S. Treasuries added further headwinds, raising the opportunity cost of holding non-yielding assets such as gold.

Despite the abrupt downturn, market observers view the selloff as a routine correction within a broader bull market rather than a fundamental shift in sentiment. Precious metals have delivered double-digit gains over the past year, making periodic profit-taking a standard feature of the market’s trajectory.

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Limelight Lab Grown Diamonds Launches Powermark At IMA Hyderabad’s 87th Foundation Day Celebrations

Powermark Is Envisioned As A Symbol Of Professional Identity and Pride, With The collection Comprising Specially Designed Diamond Brooches Dedicated To Professions That Carry Immense Responsibility and Social Impact

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Limelight Lab Grown Diamonds, India’s largest lab grown diamond jewellery brand, unveiled Powermark, its exclusive collection of diamond brooches created to celebrate the pride, dedication and achievements of professionals including Doctors, Chartered Accountants and Lawyers, at the 87th Foundation Day Celebrations of the Indian Medical Association (IMA), Hyderabad City Branch

The launch, held at Temple View Hall, Hotel Abode, Lakdikapul, Hyderabad, brought together distinguished members of the medical fraternity and senior IMA leadership, including Padma Shri Dr. P. Hanumantha Rao, renowned Developmental Pediatrician, Rehabilitation Pediatrician and Rehabilitation Psychologist, who attended as the Guest of Honour, and Dr. Anil Kumar J. Nayak, National President, IMA HQS, who attended as the Chief Guest, along with several senior IMA office bearers and other eminent dignitaries.

Powermark is envisioned as a symbol of professional identity and pride, with the collection comprising specially designed diamond brooches dedicated to professions that carry immense responsibility and social impact. The collection celebrates the journey behind professional titles and the commitment, perseverance and expertise that define them.

Speaking on the occasion, Pooja Madhavan, Founder & Managing Director, Limelight Lab Grown Diamonds, said:

“Powermark is our way of recognising the people behind the professions we deeply respect. A professional title represents years of discipline, learning, sacrifice and service, and we wanted to create something that allows individuals to wear that pride. Launching Powermark at the IMA Hyderabad City Branch’s Foundation Day is particularly meaningful as we begin this journey by celebrating the medical fraternity and the immense contribution doctors make to society.”

Dr. Sai Ram Chinthamadaka, Hon. Secretary & Ex-President, IMA said:

“Powermark is a beautiful tribute to the medical fraternity. It acknowledges the years of discipline, sacrifice and service that go behind earning the title of a doctor. It was truly special to witness Powermark being launched at IMA Hyderabad’s 87th Foundation Day. Limelight has created something truly meaningful in the form of a diamond-studded brooch that represents our journey, achievements and identity, while also ensuring instant recognition of the profession we proudly belong to. I haven’t seen anything quite like this before.”

The launch also reinforces Limelight’s focus on creating contemporary jewellery that goes beyond adornment to carry meaning, identity and personal stories. With lab grown diamonds at its core, Powermark brings together the symbolism of professional achievement with modern diamond jewellery design.

The 87th Foundation Day programme included the IMA prayer, flag salutation, addresses by senior IMA leaders, the release of the IMA Hyderabad City Branch news bulletin and other commemorative activities, culminating in the Powermark launch ceremony.

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