National News
Gold rebounds,Silver reclaims Rs 2.33 lakh mark
Global bullion markets found support and traders awaited crucial U.S. inflation data.
Indian precious metals prices turned higher, reversing part of the previous session’s steep drop as global bullion markets found support and traders awaited crucial U.S. inflation data. Â
​Domestic spot gold prices edged up across major retail hubs. Benchmark 24-karat gold rose 120 rupees per gram to 155,510 rupees per 10 grams. In Delhi, 24-karat gold reached 155,660 rupees per 10 grams, while 22-karat gold traded at 142,700 rupees per 10 grams. Â
​On the Multi Commodity Exchange (MCX), gold futures recovered from early session losses, recovering from an intraday low of 150,695 rupees per 10 grams to trade back near the 151,800 rupee level. Â
​Silver contracts also bounced off intraday lows. On the MCX, silver futures rebounded to reclaim the 2.33 lakh rupees per kilogram mark after briefly dipping to 230,270 rupees. Domestic physical 999-purity silver quoted near 2.45 lakh rupees per kilogram following the volatility. Â
National News
MCX Gold Futures Trade Near ₹1.42 Lakh Amid Dollar Strength and Fed Rate Cues
Persistent Inflation Concerns and Hawkish Policy Cues From The US Federal Reserve Continue To Weigh On Non-Yielding Bullion.
Multi Commodity Exchange (MCX) gold futures for the December contract traded in the range of Rs 1,42,324 to Rs 1,43,150 per 10 grams, reflecting recent market pressure driven by a stronger US dollar and expectations of high-for-longer interest rates from the US Federal Reserve.
Key Market Highlights
MCX December Gold Futures: ~Rs 1,42,324 – Rs 1,43,150 per 10 gramsMCX Benchmark (Previous Close Range): ~Rs 1,44,100 per 10 grams. Domestic Physical Rates: Rs 1,43,290 per 10g (24K) | Rs 1,31,350 per 10g (22K).
COMEX Gold (International Reference): ~$4,068.70 per ounce
Market Drivers
US Fed Rate Outlook: Persistent inflation concerns and hawkish policy cues from the US Federal Reserve continue to weigh on non-yielding bullion.
Firm US Dollar: A strengthening US dollar has increased the cost of dollar-denominated gold across global and domestic markets.
Festive Domestic Demand: Local buying ahead of Dhanteras and the festive season continues to provide intermittent support, cushioning broader price pullbacks.
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