MCX gold prices rise Rs 1,400/10g; silver up Rs 4,000/kg as fall in oil ease rate hike bets. Buy, sell or hold?

Gold and silver prices opened sharply higher on the Multi Commodity Exchange (MCX) on Monday as a decline in oil prices eased inflation concerns, while investors awaited key US inflation readings and fresh cues on the Federal Reserve's monetary policy outlook.

In the domestic market, MCX silver futures for December 2026 delivery were up by Rs 4,000 to Rs 1,88,979 per kg. Gold futures for December 2026 delivery rose by Rs 1,400 to Rs 1,43,933 per 10 grams.

Oil prices slipped after US President Donald Trump indicated that he was unlikely to launch further attacks on Iran as diplomatic efforts to end the conflict continued. The development eased concerns over potential disruptions to global oil supplies.


Lower crude oil prices can help moderate inflationary pressures, reducing expectations of interest rates remaining elevated for longer. This, in turn, lowers the opportunity cost of holding non-yielding assets such as gold.

The dollar weakened, making gold priced in the greenback cheaper for overseas buyers and lending further support to bullion.

However, resilient US labour market data could limit gains in gold. US job growth accelerated in October, while the unemployment rate declined to 4.1%, reinforcing expectations that the labour market remains firm and keeping the Federal Reserve on course for a potential interest rate increase in December.

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According to CME's FedWatch tool, traders are currently pricing in a 79% probability of a December rate hike, up from 71% before the release of the payrolls data.

Investors are now turning their attention to the US Consumer Price Index (CPI) report due on Tuesday and the Producer Price Index (PPI) data scheduled for Friday for further clues on the Fed's policy trajectory.

Gold, silver international prices

Spot gold gained 1.6% to $4,129.69 per ounce by 0220 GMT, while US gold futures for December delivery advanced 1.6% to $4,139.00. The yellow metal had gained around 5% last week.

Among other precious metals, spot silver climbed 2.8% to $53.31 per ounce. Platinum advanced 1.6% to $1,556.14, while palladium gained 2.1% to $1,044.28.

How should you trade gold?

Ponmudi R, CEO of Enrich Money, said MCX gold ended the week on a positive note, settling near Rs 1,42,167 after recovering from the Rs 1,37,500–Rs 1,38,300 support zone. On the upside, immediate resistance is placed at Rs 1,43,000–Rs 1,43,700, followed by Rs 1,45,300–Rs 1,46,000. A sustained breakout above these levels could pave the way for a retest of recent highs.

On the downside, the Rs 1,41,000–Rs 1,40,000 range remains the immediate support zone. A breach of this range could push prices lower towards Rs 1,38,300–Rs 1,37,500.

He added that the rupee strengthened around 1.1% during the week to nearly 93.90 against the dollar, limiting gains in domestic gold prices compared with international benchmarks.

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Gold rate in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,05,392/8 grams while pure gold (24 carat) prices stand at Rs 1,14,872/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,05,272/8 grams while pure gold (24 carat) prices stand at Rs 1,14,848/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,05,272/8 grams while pure gold (24 carat) prices stand at Rs 1,14,848/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,05,272/8 grams while pure gold (24 carat) prices stand at Rs 1,16,848/8 grams.

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