Gold prices rise to Rs 1.50 lakh/10g; silver gains ahead of US economic data. Key levels to track - The Economic Times

AI desk brief

Gold and silver opened higher on MCX ahead of U.S. CPI/PPI, with traders focused on the Fed rate path as a firm dollar and Middle East tensions kept volatility elevated. Spot gold was last at $4,164.45/oz, down 0.2% after a one-week high, while December U.S. gold futures eased 0.1% to $4,187.90; spot silver fell 0.5% to $60.01/oz, with platinum at $1,682.47 and palladium at $1,137.69.

FedWatch now prices a 21% chance of a rate hike this month and 88% for December, so a hotter-than-expected CPI could squeeze gold lower via higher real-rate expectations. Key levels cited: gold support at $4,164-4,130 and resistance at $4,220-4,242, with MCX gold support at Rs 1,48,800-1,48,100 and resistance at Rs 1,50,150-1,51,000; silver support sits at $59.80-59.10 and resistance at $61.20-62.40, with MCX silver at Rs 2,21,400-2,20,000 support and Rs 2,24,400-2,26,000 resistance.