Gold prices fall Rs 2,100/10 gram after 2 days; silver down Rs 1,500/kg ahead of US payrolls data. Important levels for today

Gold and silver prices opened lower after a two-day rally on the Multi Commodity Exchange on Friday as investors awaited the closely watched U.S. payrolls report for signals on the Federal Reserve’s next interest rate move.

In the domestic market, MCX silver futures for September 2026 delivery were down Rs 1,500 to Rs 2,40,858 per kg. Gold futures for October 2026 delivery declined by Rs 2,100 to Rs 1,55,010 per 10 grams. Gold and silver extended gains for two straight sessions before Friday’s decline.

While gold is commonly considered a hedge against inflation, higher interest rates typically pressure the non-yielding asset. The U.S. nonfarm payrolls report is scheduled for release at 1230 GMT.


Separate data showed that the number of Americans filing new claims for unemployment benefits increased marginally last week, while layoffs remained low, pointing to stable labour market conditions.

Markets are currently pricing in a 62% probability of a US rate hike this month, according to the CME FedWatch Tool. Gold is traditionally viewed as a hedge against inflation, but higher interest rates increase the opportunity cost of holding the non-yielding asset.

Geopolitical tensions also remained in focus, with fears of renewed escalation in the Middle East after the US and Iran exchanged their biggest barrage since July. Washington struck Iran’s southern coast, while Tehran launched attacks on US bases across the region.

Gold, silver international prices

Spot gold was little changed at $4,475.75 per ounce, while U.S. gold futures for December delivery fell 0.4% to $4,522.60.

Among other precious metals, spot silver declined 0.1% to $66.88 per ounce, platinum fell 0.3% to $1,820.18 and palladium slipped 0.4% to $1,415.37.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold and silver prices are expected to remain volatile in today’s session, amid fluctuations in crude oil prices and the dollar index, as well as ahead of the U.S. jobs data.

He said gold has support at $4,484-$4,440 per troy ounce, while resistance is placed at $4,555-$4,610. For silver, support stands at $66.60-$65.50, with resistance at $68.80-$70.00 per troy ounce.

On the MCX, gold has support at Rs 1,54,400-Rs 1,53,750 and resistance at Rs 1,56,600-Rs 1,58,000, while silver has support at Rs 2,40,000-Rs 2,37,700 and resistance at Rs 2,45,000-Rs 2,48,000.

Jain advised long-term investors to remain invested in gold and silver, while traders could consider booking profits on their long positions ahead of the U.S. jobs data.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,14,048/8 grams while pure gold (24 carat) prices stand at Rs 1,24,408/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,13,928/8 grams while pure gold (24 carat) prices stand at Rs 1,24,288/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,13,928/8 grams while pure gold (24 carat) prices stand at Rs 1,24,288/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,13,928/8 grams while pure gold (24carat) prices stand at Rs 1,24,288/8 grams.

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