On October 16, 2026, gold prices surged by 1.39 percent, reaching near $4,163 per ounce in early trading. US gold futures also rose by 0.24 percent to $4,180.20 per ounce. In domestic markets, spot gold closed higher at Rs 1,45,511 per 10 grams on October 14, while silver dipped to Rs 2,08,424 per kilogram. MCX gold futures for December 4 delivery climbed 1.17 percent to Rs 1,47,550 per 10 grams, and silver gained 1.24 percent to Rs 2,10,920 per kilogram.
Despite a dip following the US CPI data, bullion prices rebounded as investors continued to view gold as a hedge against inflation. Jateen Trivedia, VP Research Analyst at LKP Securities, noted that MCX Gold gained support from a stable rupee and buying interest. He also highlighted that upcoming events, such as Kevin Warsh’s speech and the Fed’s month-end policy decision, will significantly influence the dollar, interest-rate expectations, and bullion prices.