Silver Surges 7%, Gold Rises 4% on MCX Ahead of US Inflation Data
Gold and silver prices surged on India's Multi Commodity Exchange (MCX) as investors awaited US inflation data, which could influence expectations for monetary policy. The latest rally comes despite concerns over Middle East war tensions.
In the domestic market, MCX silver futures for September 2026 delivery rose by Rs 5,132 to Rs 2,41,999 per kg, while gold futures for October 2026 delivery increased by Rs 2,338 to Rs 1,55,437 per 10 grams. Over the past three days, the white metal has gained over Rs 16,000 or more than 7%, with gold rising by Rs 6,600 or more than 4%.
Market analysts believe that if US data continues to show a cooling economy without significant inflation growth, markets may reduce expectations for tighter policy. This could leave the dollar vulnerable and provide support for gold, according to Fawad Razaqzada, a market analyst at Forex.com.