Gold Prices Seen Soft into September 16 Amid Crude Oil Surge

Gold prices on the Multi Commodity Exchange (MCX) are expected to be soft into September 16, 2026, according to a prediction by Univest. On the 5 October 2026 futures contract, gold closed at Rs 150,425.00 per 10 grams, down 0.53 percent from the previous day's close.

The price drop is attributed to specific macro triggers such as surging crude oil prices and rising US Treasury yields, rather than a broad flight to safety that would typically lift gold. Crude oil surged over 2 percent on MCX after fresh Houthi attacks on Saudi Arabia deepened concerns over global energy supply stability.

The Univest research desk is tracking global cues closely for the gold prediction for tomorrow, as commodity prices on MCX often move in step with international benchmarks and the US dollar index. A sustained move in crude oil prices and the US dollar index will be key swing factors for the gold price tomorrow.