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MCX Gold and Silver Prices Rise On Positive Global Cues

International Bullion Mirrored The Domestic Strength, This Rally Was Primarily Bolstered By A Softening US Dollar and Cooling Bond Yields.

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Domestic bullion futures gained strong upward momentum on Tuesday morning, driven by robust physical demand ahead of the Indian festive season and favorable global economic indicators. On the Multi Commodity Exchange (MCX), gold October contracts climbed 0.42% to Rs 1,53,461 per 10 grams, while MCX silver December contracts rose 0.67% to Rs 2,40,615 per kilogram. In physical spot markets, 24K gold edged up to Rs 1,53,280 per 10 grams (+0.24%), while spot silver reached Rs 2,39,247 per kilogram (+0.08%).

International bullion mirrored the domestic strength, with US gold futures for December delivery gaining 0.40% to $4,485.84 per troy ounce. This rally was primarily bolstered by a softening US dollar and cooling bond yields. The dollar index dropped 0.50% to touch 98.72, while the 10-year US Treasury yield pulled back to 4.77% from 4.79% in the prior session, making dollar-denominated assets more appealing to investors.

Market participants are also actively positioning ahead of the US Federal Reserve’s upcoming policy meeting on September 15–16. According to the CME FedWatch Tool, markets are currently pricing in a 60% probability of an interest rate hike. Investors are closely awaiting two key inflation prints—the US Producer Price Index (PPI) due on Thursday and the Consumer Price Index (CPI) on Friday—to gauge the Fed’s next strategic move.

Adding a strong safe-haven bid to the precious metals complex is the ongoing US-Iran geopolitical friction. Risks of regional escalation heightened following reports that Iran threatened the United States with “economic warfare” and claimed to have targeted US warships with an advanced missile, driving capital into traditional hedge assets.

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National News

Mortantra Culture House, Mumbai

Where Indian Craft Meets Contemporary India

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Mortantra, the contemporary ceremonial Indian jewellery house founded on the belief that Indian craft should be lived, worn and be in circulation, opens its Mumbai flagship, Mortantra Culture House – an immersive experiential environment where jewellery becomes the starting point for an exploration of Indian craft, culture and contemporary design. 

Spread across approximately 2,000 sq. ft. in Khar, the Culture House brings Mortantra’s world of jewellery, craft, storytelling and hospitality under one roof. Its design is shaped by an Indian Modern sensibility, where lime plaster, glass, wood and brushed brass meet traditional textiles, hand-worked surfaces, artefacts and jewellery techniques passed down through generations of karigars. 

Craft traditions including Kalamkari, Phad Chitra, Pattachitra, Mata Ni Pachedi, Bandhani, Mochi Bharat to name a fewappear throughout the space as a cultural thread and a blessing for this new chapter of the brand.

A Gallery in Motion

The experience begins with a one of a kind 200 KG raw brass door, an interpretation of Mortantra’s philosophy of making Indian traditional jewellery crafts accessible through the metal of India. 

Inside, a seven-foot Mata Ni Pachedi introduces visitors to the world of Mortantra. A peacock – a metaphor for the brand and a reference to its name, Mortantra, meaning peacock magic,  is placed against a Warli artwork representing Mumbai and Maharashtra. The meeting of the two becomes a visual dialogue between Mortantra’s roots in Gujarat and its new home in Mumbai.

The ground floor unfolds like a gallery, with jewellery presented within warm wooden vitrines detailed in brushed brass. Terracotta, textiles, Kalamkari, hand-carved objects and hand-worked metal sit alongside the jewellery.

An alta- red arch frames a Phad painting commissioned from National Award – winning artist Kalyan Joshi, inspired by the founder’s idea of a fictional city where Indian women from every era coexist.The work reflects on how jewellery and its stories travel through time, and what it means to preserve them.

Across the space, jewellery finds its place alongside a wider world of Indian craft and culture. Artworks and installations draw from Kalamkari, Phad, Mata Ni Pachedi, Warli and the country’s rich textile traditions, bringing craft, memory and adornment into the same conversation. Details reveal themselves as you move through the space – from the 108 names of shringaar etched across brass plates, to sacred motifs beneath the jewellery and textiles woven into a chhat overhead. Together, these touches encourage you to look beyond the jewellery itself and discover the histories, hands and traditions that have shaped Indian adornment over generations.

The Collective & The Sanctum

The lower level becomes warmer and more intimate, housing Sangrah : The Collective, a three-walled grand display of Mortantra’s jewellery-  Jadau Kundan, Quartz Polki, Temple, Mishr, Meenakari and Thappa Jadau, alongside statement pieces and bridal jewellery.

The ceiling is layered with textiles from across India, reflecting Mortantra’s commitment to regional crafts, and is finished with a Kutch Mochi Bharat shawl, paying homage to the brand’s Gujarati roots.

A heritage installation traces the evolution of Kundan and Jadau, bringing together archival references, Mortantra pieces and insights into technique and provenance.

The adjoining The Sanctum – Shringaar Antahpuris conceived as a contemporary haveli dressing room, defined by four alta-red arches. It includes spaces for bridal and groom jewellery selections, a getting-ready dresser featuring artefacts from across India, and a lounge for bridal consultations.

The space reflects Mortantra’s founding purpose: to make the dream of Indian bridal jewellery accessible without the burden of gold.

Why Mumbai, Why Khar

With over 30% of Mortantra’s customer base based in Mumbai, the city was a natural choice for the brand’s flagship. Mumbai’s discerning, evolving fashion culture mirrors Mortantra’s own approach to Indian jewellery-  deeply connected to heritage while remaining open to reinterpretation.

Khar, with its longstanding presence in Mumbai’s fashion and design landscape, felt like the right setting for Mortantra’s first Mumbai flagship, bringing the brand into an area already shaped by the city’s creative energy..

A Different Kind of Jewellery Space

Across the Culture House, one element remains constant: the hand. From jewellery and textiles to artefacts and craft, everything reflects the human skill and knowledge behind Indian making.

The result is a space that sits somewhere between a gallery, archive, gathering place and bridal sanctuary. Rather than simply displaying jewellery, Mortantra Culture House invites visitors to slow down, explore and discover the stories, craft and ideas behind each piece.

At its core, the flagship represents Mortantra’s belief that craft belongs in our hands, in circulation and in everyday life,  not locked away in museums or archives.

Mumbai marks the next chapter in that belief,  bringing together the richness of Indian jewellery’s past with a more contemporary way of seeing, making and wearing it today.

The Culture House marks a new chapter for Mortantra –  a physical expression of the world the brand has been building over the past decade, now brought together in Mumbai. With an established voice in contemporary Indian jewellery, Mortantra brings together its distinct point of view shaped in Indian craft, material, memory and storytelling.

More than a flagship, the Culture House brings these worlds together through architecture, objects and jewellery, inviting a closer look at the craft and knowledge behind what we wear. The ambition is not to recreate the past, but to keep its beauty and traditions moving forward in a contemporary context. In Mumbai, the Culture House becomes a meeting point between the India Mortantra comes from and the India it is helping shape.

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