Gold and Silver Prices Rise on Softening Dollar, Bond Yields
Gold and silver prices on the Multi Commodity Exchange (MCX) rose for the second consecutive session, driven by a softening US dollar and easing bond yields. The MCX silver futures for September 2026 delivery increased by Rs 2,460 to Rs 2,38,726 per kg, while gold futures for October 2026 delivery rose by Rs 1,600 to Rs 1,53,995 per 10 grams.
The gains in the past two days have been substantial, with silver up more than Rs 3,000 and gold rising by Rs 2,300 per 10 grams. Market participants are now focused on the upcoming US nonfarm payrolls data, which could influence expectations for the Federal Reserve's next policy decision.
The ADP National Employment Report showed that private payrolls in the US rose less than expected in August, while a mixed report from the Federal Reserve indicated modest growth in US economic activity. The report may not provide clear direction to policymakers considering whether to raise interest rates at their September 15-16 meeting.