— Bullion markets experienced a sharp rebound today as gold and silver prices jumped by up to 2% on the Multi Commodity Exchange (MCX). The price surge reflects renewed buying interest and improved investor sentiment across domestic commodity markets, driven by a softer US dollar and declining Treasury yields following strong Democratic performances in the US midterm elections.

Domestic gold prices advanced nearly 2% during morning trading, pushing gold futures to a two-week high. The decline in US Treasury yields provided further momentum, increasing the appeal of non-yielding assets such as precious metals. 

​Key Domestic Market Rates (November 5, 2026)

​Retail bullion rates across major metro cities reflected today’s upward surge:

​Delhi:

Standard 22-carat gold stood at Rs 1,07,200 per 8 grams, while pure 24-carat gold traded at Rs 1,16,936 per 8 grams.

​Mumbai:

Standard 22-carat gold opened at Rs 1,07,080 per 8 grams, with pure 24-carat gold priced at Rs 1,16,816 per 8 grams.

​Market Drivers

​Analysts attribute today’s sudden surge to several macroeconomic factors:

​US Dollar Index Softening: A weaker greenback made dollar-priced commodities more attractive to international and domestic buyers. 

​Declining Bond Yields: Reduced yields on safe-haven sovereign bonds shifted capital allocation toward precious metals.

​Political Factors: Clarity emerging from the US midterm election results injected fresh liquidity into commodity markets. 

​Market observers expect spot gold and silver rates across major Indian hubs to remain responsive to macroeconomic triggers and currency movements throughout the trading session.