Gold prices fall Rs 1,400/10 grams, but silver rises Rs 1,025/kg despite easing Fed hike bets. Check key l - The Economic Times

AI desk brief

MCX December gold fell Rs 1,400 to Rs 1,49,050/10g even as silver rose Rs 1,025 to Rs 2,26,902/kg, with the move coming against a backdrop of weaker-than-expected US payrolls that cut October Fed hike odds to 22% from 64% a week earlier, though December hike odds remain high at 87% per CME FedWatch. Spot gold was up 0.4% at $4,158.17/oz and spot silver gained 1.7% to $61.40/oz, while platinum and palladium also firmed.

Geopolitical risk remains supportive, with Yemen’s Saudi-backed government launching a campaign against Houthi-controlled areas and traders still watching US-Iran peace talks. Prithvi Finmart’s Manoj Kumar Jain said gold is holding support at $4,110/oz and needs a sustained break above $4,255 to extend gains; on MCX he flagged Rs 1,47,700 as support and Rs 1,52,000 as the next upside trigger, while silver needs to clear $62.40/oz or Rs 2,31,000. He advised avoiding fresh positions over the long weekend given the policy and geopolitics uncertainty.