Gold, silver prices fall on MCX: Key factors driving prices today - CNBC TV18

AI desk brief

Gold and silver fell on MCX as expectations of US rates staying higher for longer and a stronger dollar weighed on bullion; MCX October gold was down 0.62% at ₹1.52 lakh/10g and December silver was also down 0.62% at ₹2.37 lakh/kg. Gold briefly hit ₹1.53 lakh/10g intraday before reversing, while COMEX gold traded around $4,355/oz and silver around $65.75/oz.

Market participants said easing US Treasury yields and softer crude offered some support, but Fed policy uncertainty remained the main cap on prices. Traders cited bullish technical ranges of $4,250-$4,450/oz for gold and $62.5-$67.5/oz for silver, with continued ETF inflows and strong Chinese demand still providing a demand backstop; a weaker rupee could keep domestic prices elevated even if global prices soften.