Dollar Weakness Drives Gold, Silver Gains
Gold and silver prices rose for the second consecutive day on the Multi Commodity Exchange as the US dollar weakened. The MCX silver futures for September 2026 delivery were up Rs 2,200 to Rs 2,41,180 per kg.
The gold futures for October 2026 delivery declined by Rs 822 to Rs 1,53,640 per 10 grams. Markets are now awaiting the US producer price index data due on Thursday, followed by consumer price index data on Friday.
With today's gains, gold and silver have risen Rs 900 and Rs 3,500 in two sessions. According to Manoj Kumar Jain of Prithvi Finmart, gold has support at $4,440-$4,400 per troy ounce, while resistance is seen at $4,510-$4,555.
For silver, support is placed at $65.50-$64.40 per troy ounce, with resistance at $68.00-$69.10 in today's session.