Rates of precious metals in futures dropped and opened with a sharp gap down on Thursday following the Federal Reserveās first rate hike since 2023. The gold October 5 contract on the Multi Commodity Exchange (MCX) opened with a fall of Rs 1,957 or 1.28 per cent at Rs 1,50,513 per 10 grams against the previous close of Rs 1,52,470. It fell further amid profit booking and touched an intraday low of Rs 1,50,483, down Rs 1,987 or 1.30 per cent. Last seen, it was trading at Rs 1,51,580 with a fall of Rs 890.
On the MCX, the yellow metal futures for December 2026 were down by Rs 1,055 or 0.69 per cent to trade at Rs 1,52,956 per 10 grams in business turnover of 10,071 lots.Ā
“This rise in interest has tended to pressure gold prices by increasing the appeal of interest-bearing assets. The Bank of England looks set to keep interest rates on hold on Thursday, but investors are watching for any hint that surging energy prices could force it to follow the Fed’s example. For intraday momentum, key support would be at 1,50,100 and resistance would be at 151,750 ā 152,350 respectively. If price breaks below the support level, we may expect further downside momentum in Gold price,” said Aamir Makda, Commodity & Currency Analyst, Technical Research, Choice Broking.
Silver Price On MCXĀ Ā
Similarly, the silver futures, maturing on December 4, 2026, opened in the red. It began the trading session at Rs 2,32,301 against the previous close of Rs 2,34,786, a drop of Rs 2,485 or 1.05 per cent. It later touched the intraday low of Rs 2,32,301, a fall of Rs 4,565 or 1.94 per cent. Last seen, it was trading at Rs 2,33,587 with a fall of Rs 1,443 or 0.61 per cent.Ā Ā
Gold Price in the International MarketĀ
In the international market, the COMEX gold price fell 0.76 per cent to approximately USD 4,320.1 per troy ounce. The spot gold price at 1 pm was USD 4,318.69 per ounce, up by USD 28.16 or 0.65 per cent.
Check Gold, Silver Prices In Major Cities
Gold price in DelhiĀ Ā
In Delhi, the 24-carat gold price was quoted at Rs 1,52,990 per 10 grams. For 22-carat gold, the consumer would have to spend Rs 1,40,250 per 10 grams.
Gold price in Mumbai
In Mumbai, 24-carat gold was available at Rs 1,52,840 per 10 grams, while 22-carat gold stood at Rs 1,40,100 per 10 grams.Ā
Gold price in Kolkata
The 24-carat gold price in Kolkata today was Rs 1,52,840 per 10 grams, while the rate for 22-carat gold was Rs 1,40,100 per 10 grams.Ā Ā
Gold price in Chennai
In Chennai, the 24-carat gold was available for Rs 1,52,840 per 10 grams. For 22-carat gold, the rate was Rs 1,40,100 per 10 grams.
Silver prices in Delhi
The price of silver per kg in the national capital was Rs 2,45,000.Ā
Silver price in Mumbai
In Mumbai, the consumer would have to pay Rs 2,45,000 per kg today to buy the precious metal.
Silver price in Kolkata
In Kolkata, the price of 1 kg of silver stood at Rs 2,45,000.Ā
Silver price in Chennai
In Chennai, the price of the precious metal stood at Rs 2,50,000 per kg.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)