MCX Gold and Silver Prices Open Lower Amid US Inflation Data Anticipation
Gold and silver prices on the Multi Commodity Exchange (MCX) opened lower on Thursday, as investors await US inflation data due later in the day. The dollar remained subdued, but markets are focused on interest rates, with a 60% probability of a rate increase this month, according to the CME FedWatch Tool.
The MCX silver futures for September 2026 delivery fell by Rs 1,500 to Rs 2,42,276 per kg, while gold futures for October 2026 delivery declined by Rs 182 to Rs 1,53,581 per 10 grams. Manoj Kumar Jain of Prithvifinmart expects prices to remain volatile this week, driven by fluctuations in crude oil prices and the dollar index.
Jain sees support at $4,420-$4,385 per troy ounce for gold, with resistance at $4,484-$4,510. For silver, he recommends support at $67.40-$66.00 and resistance at $69.10-$70.40 in today's session.
Jain suggests traders holding long positions book profits ahead of the US inflation data, while fresh buying can be considered on dips. Gold prices in physical markets vary by city: Rs 1,13,272/8 grams for standard gold (22 carat) in Delhi, and Rs 1,23,560/8 grams for pure gold (24 carat).