Gold and Silver Prices Surge on MCX Amid Market Volatility

Gold and silver prices rose on the Multi Commodity Exchange (MCX) amid market volatility fueled by US Treasury bond buybacks and surging national debt.

The gold October 5 contract opened with a gain of Rs 1,205 or 0.75 per cent at Rs 1,60,630 per 10 grams against the previous close of Rs 1,59,425.

Enrich Money's Ponmudi R noted that immediate support is at Rs 1,58,600-1,58,000, with next support at Rs 1,56,500-1,56,000. The RSI at 73.02 indicates very strong momentum, but also leaves the market vulnerable to profit-taking.

Silver futures maturing on September 4, 2026, opened in the green, touching an intraday high of Rs 2,46,936 with a gain of Rs 3,693 or 1.52 per cent.