Gold, silver futures rise as global cues improve and Fed rate hike concerns ease - Telangana Today

AI desk brief

Gold and silver futures rose on MCX as firmer global cues and easing near-term Fed hike fears supported the complex, with December gold at Rs 1,48,379/10g (+0.31%) and December silver at Rs 2,12,013/kg (+0.39%). COMEX gold moved back toward $4,200/oz and COMEX silver outperformed, nearing $57.80/oz, though a stronger rupee limited the pass-through to domestic prices.

The article says remarks from Fed Chair Kevin Warsh in Bangkok pushed the implied probability of an October rate increase below 20%, but hotter inflation data still leaves a December move in play ahead of the Oct. 27-28 FOMC meeting. Key MCX gold resistance is seen at Rs 1,48,600, then Rs 1,50,000-1,50,700, with support at Rs 1,48,000 and then Rs 1,45,300-1,46,000; MCX silver resistance is Rs 2,14,000-2,15,000, with support at Rs 2,07,000-2,08,000.