Is the Gold Rally Back or is a correction pending ?

Following a sharp sell-off in US long-term bonds and a dent in hopes of a US Fed rate hike amid renewed inflation concerns, the gold price saw a strong rebound last week. In the international market, the COMEX gold price today stands nearly 16% above its June 2026 low of $3,942 per ounce. In the domestic market, the MCX gold rate today stands at around ₹1,62,500 per 10 gm, nearly 17% higher than its June lows of nearly ₹1,40,000 per 10 gm. Looking at the USD-INR conversion, the Indian National Rupee (INR) settled at 95.71 against one US Dollar (USD) on Friday, about 1.20% below its July 2026 peak of 96.88. it will be interesting to watch out if the rally persists or will we see a correction.