Gold prices slip Rs 5,000/10g in 4 days; silver falls Rs 1,200/kg today ahead of Kevin Warsh’s Jackson Hole speech. Buy, sell or hold?

Gold and silver prices opened lower on the Multi Commodity Exchange (MCX) on Friday as markets awaited closely watched remarks from U.S. Federal Reserve Chair Kevin Warsh at the Jackson Hole economic symposium. Investors are looking for clues on the central bank’s interest-rate path.

In the domestic market, MCX silver futures for September 2026 delivery were down Rs 1,200 to Rs 2,39,460 per kg. Gold futures for October 2026 delivery fell Rs 750 to Rs 1,58,252 per 10 grams. Gold has fallen Rs 5,000/10 grams in 4 sessions.

Fed officials on Thursday voiced continued concerns over the U.S. inflation outlook as central bankers gathered in Jackson Hole, Wyoming, for the Kansas City Fed’s annual economic symposium.


Their comments came a day after data showed the Personal Consumption Expenditures Price Index, the Fed’s preferred inflation gauge, rose 3.7% in the 12 months through July. Warsh is scheduled to speak later on Friday, with markets closely watching his remarks for signals on the Fed’s monetary policy outlook.

Traders see a 35.4% probability of a U.S. rate hike in September and a 74.6% chance of a hike by December, according to the CME FedWatch Tool. While gold is traditionally viewed as a hedge against inflation, higher interest rates tend to weigh on the non-yielding asset by making interest-bearing investments more attractive.

In geopolitical developments, Qatar’s prime minister visited Tehran on Thursday in an effort to revive stalled diplomacy six months into the war, while U.S. President Donald Trump said Washington was not currently in talks with Iran.

Also read: Gold prices jump 7% to log best weekly gain in 8 months. Start of another yellow metal bull run?

Gold, silver international prices

Spot gold was down 0.2% at $4,589.85 an ounce, while U.S. gold futures fell 0.5% to $4,642.60 on Friday.

Among other precious metals, spot silver fell 0.2% to $69.12 an ounce, while palladium slipped 0.1% to $1,349.34. Platinum declined 0.2% to $1,842.26 and was on track for a weekly loss.

How should you trade gold?

Jigar Trivedi of IndusInd Securities said MCX Gold October is expected to drop to Rs 158,800/10g during the day session.

Meanwhile, gold continued to benefit from the so-called debasement trade, as the US Treasury’s expanded debt buybacks heightened concerns over the risk of a US debt crisis and further weakness in the dollar.

On the geopolitical front, oil prices remained elevated as escalating tensions in the Russia-Ukraine war offset signs of diplomatic progress in the Middle East.

Read more: Explained: Why South Korea bought gold after 13 years and what it means for yellow metal investors?

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,19,632/8 grams while pure gold (24 carat) prices stand at Rs 1,30,496/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,19,512/8 grams while pure gold (24 carat) prices stand at Rs 1,30,376/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,19,512/8 grams while pure gold (24 carat) prices stand at Rs 1,30,376/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,19,512/8 grams while pure gold (24carat) prices stand at Rs 1,30,376/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)