Gold Holds Steady Amid Weaker Dollar, Silver Sees Rise
The price of gold on the Multi Commodity Exchange (MCX) stabilized around Rs 1.60 lakh per 10 grams, supported by softer crude oil prices and a decline in the US dollar. The October 5 contract opened with a gain of Rs 836 or 0.52 percent at Rs 1,60,499 per 10 grams against the previous close of Rs 1,59,663.
The gold futures for December 2026 were up by Rs 267 or 0.19 percent to trade at Rs 1,43,643 per 10 grams in business turnover of 9569 lots. Ponmudi R, CEO of Enrich Money, noted that immediate resistance is at the Rs 1,62,000-1,62,500 zone, followed by Rs 1,64,500-1,65,000.
The silver futures maturing on September 4, 2026, opened in the green, gaining Rs 3,361 or 1.4 percent to begin trading at Rs 2,42,999 against the previous close of Rs 2,39,638.