Gold Prices Extend Weekend Slump as Dollar Strength Dampens Bullion Appeal

The Warsh Pivot and Dollar Resurgence

The transition toward a potentially more hawkish Federal Reserve under Kevin Warsh has forced a rapid repricing of interest rate expectations for 2026. This has strengthened the USD to multi-month highs, making dollar-denominated bullion significantly more expensive and less attractive to institutional investors.

Budget 2026 and Local Impacts

In India, the presentation of the Union Budget 2026 today is the primary focal point for local traders. Speculation regarding changes to import duties and custom taxes is keeping domestic physical premiums high, even as international spot prices continue to bleed.