Gold and silver prices fell in international markets on Tuesday, November 10, 2026, amid inflation concerns and uncertainty over the US Federal Reserve’s interest rate outlook. Spot gold dropped 0.61% to $4,114.720 per ounce, while spot silver declined 0.75% to $52.999 per ounce, according to TradingView data as of 8:51 am. In India, the Multi Commodity Exchange (MCX) was closed for morning trading due to Diwali-Balipratipada but resumed evening sessions.
Domestically, MCX gold futures (December 4 contract) closed 0.04% lower at ₹1,43,106 per 10 grams on November 9, while silver futures fell 0.06% to ₹1,87,015 per kg. Retail prices varied across major cities, with 24-karat gold in Delhi at ₹143,140 per 10 grams and 22-karat gold at ₹131,212 per 10 grams. In Mumbai, 24-karat gold was priced at ₹143,380 per 10 grams, while silver was at ₹187,380 per kg.
Manav Modi, Commodities Analyst at Motilal Oswal Financial Services, noted that gold prices rebounded above $4,100 on Monday following stronger-than-expected US employment data. October non-farm payrolls increased by 165,000, surpassing market expectations of 65,000, while the unemployment rate dropped to 4.1%. Modi also highlighted an 80% probability of a December interest rate hike and expectations of easing geopolitical tensions.
The upcoming US CPI report is expected to reset inflation and interest rate expectations. Modi added that Democratic victories in Congress have fueled hopes for reduced US defense spending and progress toward ending the Iran conflict, which had earlier supported bullion prices.