Gold prices fall Rs 1,400/10 grams, but silver rises Rs 1,025/kg despite easing Fed hike bets. Check key levels to track

EconomicTimes2026/10/05 04:48

By:EconomicTimes

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Gold and silver prices opened mixed on the Multi Commodity Exchange (MCX) on Monday, as recent weak US economic data sharply reduced expectations of a US Federal Reserve rate hike in October, boosting the appeal of non-yielding assets.

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In the domestic market, MCX silver futures for December 2026 delivery rose Rs 1,025 to Rs 2,26,902 per kg. Gold futures for December 2026 delivery fell Rs 1,400 to Rs 1,49,050 per 10 grams.

US job growth slowed more than expected in September, while nonfarm payrolls for the previous two months were revised sharply lower, data showed on Friday. Markets are now pricing in a 22% probability of a Fed rate hike in October, down from 64% a week earlier, while the probability of a December rate increase remains at 87%, according to the CME FedWatch Tool.

The US central bank last month raised its benchmark overnight interest rate by 25 basis points to a range of 3.75%-4.00%, marking its first rate increase in three years.

In geopolitical developments, Yemen's Saudi-backed, internationally recognised government said on Sunday that it was launching a major military campaign to retake all areas controlled by the Iran-backed Houthis.

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Oil prices slipped as higher crude exports from the Middle East and the release of oil stocks by G7 nations added to supply, despite continued concerns over potential damage to Gulf oil infrastructure amid the Iran war.

Gold, silver international prices

Spot gold rose 0.4% to $4,158.17 per ounce by 0150 GMT, while US gold futures for December delivery gained 0.6% to $4,186.40.

Among other precious metals, spot silver rose 1.7% to $61.40 per ounce, platinum gained 0.6% to $1,708.48, while palladium rose 0.6% to $1,175.04.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold is holding its support level of $4,110 per troy ounce, while silver is holding support at $59.10 per troy ounce. He said gold prices could show further strength only after crossing and sustaining above $4,255, while silver needs to cross and sustain above $62.40.

On the MCX, December gold is holding support at Rs 1,47,700, while silver is holding support at Rs 2,18,800. Jain said gold could gain further strength if prices cross and sustain above Rs 1,52,000, while silver needs to cross and sustain above Rs 2,31,000.

Jain recommended avoiding fresh positions in gold and silver amid the long weekend and uncertainty surrounding US-Iran peace talks.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,09,512 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,456 per 8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,09,392 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,336 per 8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,09,392 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,336 per 8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,09,392 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,336 per 8 grams.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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