Gold prices saw a slight decline on Monday, October 26, 2026, dipping just above $3,999 per ounce in early trading. The drop came as US gold futures fell 0.22 percent to $3,999.10 per ounce. Meanwhile, MCX gold futures for December 4 delivery inched up 0.03 percent to Rs 1,42,451 per 10 grams, while silver prices rose 0.55 percent to Rs 1,96,803 per kilogram.
Domestic spot gold on the MCX closed at Rs 1,41,031 per 10 grams on Friday, October 23, while silver settled at Rs 1,94,170 per kilogram. The downward pressure on gold was attributed to higher rate expectations and elevated bond yields, which increase the opportunity cost of holding non-yielding assets.
Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, noted that the Federal Reserve’s policy decision next week will be a key trigger for gold’s near-term direction. The rate outlook and policy guidance from the Fed are expected to influence bullion prices moving forward.