MCX Gold Silver Rates – Gold and silver moved in opposite directions on the Multi Commodity Exchange (MCX) on Monday. December delivery gold declined by Rs 1,400 to Rs 1,49,050 per 10 grams, while December silver advanced Rs 1,025 to Rs 2,26,902 per kilogram. Despite the day’s contrasting moves, both precious metals remained well below their respective record highs cited in the market data.
Gold and Silver Remain Below Record Levels
According to the MCX figures cited in the source material, gold had reached a record high of Rs 1,93,096 per 10 grams on January 29. At Monday’s level, the metal was around Rs 44,046 below that peak.
Silver’s all-time high on MCX was cited at Rs 4,20,048 per kilogram. With December contracts trading at Rs 2,26,902, the metal remained approximately Rs 1,91,146 below its previous record level.
The latest prices therefore reflect a significant correction from the highs seen earlier, even though silver recorded a gain during Monday’s session.
US Employment Data Influences Rate Expectations
One factor cited behind recent movements in precious metals is the changing outlook for US interest rates. September employment data from the United States reportedly came in weaker than expected, while payroll figures for the previous two months were also revised significantly.
The developments reduced expectations of a US Federal Reserve rate hike in October. The probability cited in the report fell from 64% a week earlier to 22%.
Expectations around interest rates can influence gold and silver because these assets do not generate interest income. A lower-rate environment can therefore alter investor demand for precious metals, although prices can also respond to currency movements, economic data and broader market sentiment.
International Gold and Silver Prices Move Higher
The overseas market showed a different trend from Monday’s domestic MCX gold movement. Spot gold rose 0.4% to $4,158.17 per ounce, while US gold futures gained 0.6% to $4,186.40 per ounce.
Silver also strengthened internationally. Spot silver increased 1.7% to $61.40 per ounce, according to the figures cited in the source material.
The gains in international prices indicate that global precious-metal markets were receiving support even as the domestic December gold contract declined during the session.
Key Support and Resistance Levels
Market experts cited in the report have identified $4,110 as an important support level for international gold. A sustained move above $4,255 could strengthen the bullish momentum, according to the technical view presented.
For MCX December gold, the cited support level is Rs 1,47,700. A move and sustained trading above Rs 1,52,000 has been identified as a level that could support further strength.
Silver’s international support has been placed at $59.10, with $62.40 viewed as an important resistance level. On MCX, the report identifies Rs 2,18,800 as support for silver, while Rs 2,31,000 is considered an important level for a stronger upward move.
Experts Urge Caution Amid Market Uncertainty
The report also points to geopolitical uncertainty and developments surrounding US-Iran peace talks as factors that could influence precious-metal prices. Against this backdrop, market experts have advised caution toward taking fresh positions in gold and silver.
The technical levels provide reference points for traders, but they do not guarantee future price movements. Gold and silver can remain sensitive to global interest-rate expectations, economic data and geopolitical developments, making the direction of prices subject to rapid changes.