MCX Gold Surges to Record High as Silver and Oil Prices Remain Stable

Gold and silver prices on the Multi Commodity Exchange (MCX) have shown positive momentum, with gold trading at ₹1,55,450 per 10 grams and silver at ₹2,38,000 per kilogram. The yellow metal has been boosted by weaker US dollar index and softer expectations of a Federal Reserve rate hike after in-line US inflation data.

The MCX Gold price action remains bullish as the contract holds above both the 20-EMA and the 50-EMA. However, analysts caution that a sustained move below ₹1,51,548 could weaken the structure.

Meanwhile, crude oil prices have remained rangebound near ₹7,836 per barrel on MCX, with the ADX indicating a weak trend and sideways price action.