Gold, silver prices today: What could drive bullion rates this week - CNBC TV18

AI desk brief

Gold and silver edged higher on Oct. 19 as safe-haven demand and lower U.S. Treasury yields offset ongoing inflation and Fed tightening concerns. On COMEX, gold rose 0.30% to $4,193.60/oz after touching $4,208.40, while silver gained 0.51% to $57.60/oz; MCX December gold had previously corrected 2.4% to about ₹1.47 lakh/10g and silver 6.4% to around ₹2.11 lakh/kg.

Market participants are watching Strait of Hormuz tensions, crude oil, the dollar and Treasury yields for the next leg, with Chinese data also relevant for silver demand. A local currency effect is cushioning Indian domestic prices: the rupee strengthened to about 94.8 per dollar from 96.8, reducing landed import costs. Technically, gold is seen targeting $4,200/oz if the rebound holds, while silver needs to stay above $56.30/oz to extend toward $58.50/oz.