Gold and Silver Prices Surge on Weaker Dollar, MCX Gains
Gold and silver prices on the MCX rose for a third consecutive session on Friday due to a weaker US dollar and efforts by the U.S. Treasury Department to keep longer-term yields under control.
The U.S. dollar was headed for a weekly decline, making dollar-priced commodities more affordable for holders of other currencies.
MCX silver futures for September 2026 delivery increased by Rs 1,915 to Rs 2,45,158 per kg, while gold futures for October 2026 delivery rose by Rs 1,205 to Rs 1,60,630 per 10 grams.
In the last three sessions, silver has jumped Rs 13,000, and gold has risen nearly Rs 6,500/10 grams.
Markets are pricing in a 64% probability that the Fed will leave interest rates unchanged in September, while the probability of a rate hike stands at 36%, according to the CME FedWatch Tool.