Gold, silver futures rise on MCX amid easing Fed rate concerns - Daijiworld

AI desk brief

Gold and silver futures firmed on MCX as easing expectations of an imminent Fed hike supported global bullion, while a firmer rupee tempered the domestic upside. MCX December gold traded at Rs 1,48,379/10g, up Rs 461, after hitting an intraday high of Rs 1,48,499; silver December rose to Rs 2,12,013/kg, up Rs 826, with an intraday high of Rs 2,12,750.

The article frames the next catalyst as the Oct. 27-28 FOMC meeting, with traders balancing softer near-term rate-hike odds against hotter US inflation data that keeps a December move in play. Technical levels cited: gold resistance at Rs 1,48,600 and Rs 1,50,000-Rs 1,50,700, with support at Rs 1,48,000 and then Rs 1,45,300-Rs 1,46,000; silver resistance at Rs 2,14,000-Rs 2,15,000 and Rs 2,19,000-Rs 2,20,000, with support at Rs 2,07,000-Rs 2,08,000 and Rs 2,00,000-Rs 2,02,000.