Soft Inflation Data Boosts Gold, Silver Prices in India

Gold and silver futures on the Multi Commodity Exchange (MCX) saw an uptick in prices due to soft US inflation data, a decline in crude oil prices, and easing expectations of further interest rate hikes by the Federal Reserve.

In the domestic market, gold recovered after opening weakly, while silver traded higher. On MCX, gold futures were trading near ₹1,51,900 per 10 grams at the time of writing, while silver futures were around ₹2,33,500 per kg.

The October gold contract on MCX opened at ₹1,51,793 per 10 gram, down ₹27 from the previous close. However, it later traded at ₹1,51,905, up ₹85. Silver futures, meanwhile, touched a high of ₹2,33,618 and a low of ₹2,31,660.