Gold volatile on MCX silver gains as October begins with mixed trends

Precious metal futures on the Multi Commodity Exchange (MCX) showed mixed trends on Monday, October 5, 2026. Gold, which had experienced significant volatility following a sharp correction in September, opened higher but later saw profit-taking. The October 5 gold contract started at Rs 1,51,197 per 10 grams, up Rs 807 from the previous close, but fell to an intraday low of Rs 1,48,850 before closing at Rs 1,49,699, down Rs 691 or 0.46 per cent.

In contrast, silver futures for December 4, 2026, opened in the green, rising from Rs 2,25,877 to Rs 2,25,900. The metal touched an intraday high of Rs 2,27,490, up Rs 1,613 or 0.71 per cent, before settling at Rs 2,27,089, a gain of Rs 1,212 or 0.54 per cent. Vikram Subburaj, CEO of Giottus, noted that softer US inflation data reduced expectations of an October Federal Reserve rate hike, providing some relief to gold prices. However, he cautioned that the dollar and Treasury yields remain key risks for the rally.

Internationally, gold prices on COMEX gained 0.50 per cent to approximately USD 4,183 per troy ounce. Spot gold prices at 1:19 am were USD 4,158.41 per ounce, up by USD 18.74 or 0.45 per cent. In major Indian cities, 24-carat gold prices ranged from Rs 1,48,950 in Delhi to Rs 1,49,180 in Mumbai, Kolkata, and Chennai. Silver prices were consistent at Rs 2,35,000 per kg in Delhi, Mumbai, and Kolkata, while Chennai saw a higher price of Rs 2,45,000 per kg.