Gold rises after hitting two-month low, silver gains: What to watch next - CNBC TV18

AI desk brief

Gold and silver firmed on Oct. 8 after both metals had been pressured in the prior session, with COMEX gold at $4,152.90/oz (+0.29%) and silver at $60.645/oz (+0.58%); spot gold was around $4,127.40 and spot silver near $60.39. The near-term setup remains dominated by Fed policy, Treasury yields and the dollar, with markets pricing an 18% chance of a hike later this month and around 80% for December, while a stronger dollar and higher yields would cap upside.

Longer term, the piece points to central-bank buying, especially from China and other emerging markets, plus rising ETF participation as structural supports for gold. In India, high prices are already curbing jewelry volumes but boosting value: Q2 2026 Indian jewelry demand fell 15% y/y to 75.1t even as first-half value rose 26% to $21bn; overall Q2 gold demand fell 6% y/y to 131.4t while value rose 50% to a record ₹1.98 lakh crore, with bar-and-coin demand up 9% and gold ETF demand up 49%.