Gold and Silver Prices Surge on MCX Amid US Bond Yield Decline
On August 20, 2026, gold and silver prices surged on the Multi Commodity Exchange (MCX) due to a decline in US bond yields. The gold October 5 contract opened with a gain of Rs 12 at Rs 1,58,008 per 10 grams against the previous close of Rs 1,57,996.
The immediate resistance for gold is at the Rs 2,41,000 mark, and a break above targets the next resistance at Rs 2,45,000-2,46,000. Immediate support is at Rs 2,35,000-2,34,000 (100-EMA), with next support at Rs 2,30,000-2,29,000.
Silver futures also opened in the green, beginning the trading session at Rs 2,38,500 against the previous close of Rs 2,36,787. It later touched an intraday high of Rs 2,41,167, a jump of Rs 4,380 or 1.89 per cent.
Ponmudi R, CEO of Enrich Money, said 'Immediate resistance is at the Rs 2,41,000 mark, and a break above targets the next resistance at Rs 2,45,000-2,46,000...'