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Gold and Silver Edge Higher on MCX as Precious Metals Recover
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CNBC TV18•06-10-2026, 16:08
Gold and Silver Edge Higher on MCX as Precious Metals Recover
- •Gold and silver prices traded higher on the Multi Commodity Exchange on October 6, recovering from September corrections.
- •MCX gold December futures rose 0.32 percent to trade at ₹1.49 lakh per 10 grams, while silver December futures increased by 0.11 percent to ₹2.26 lakh per kg.
- •Market analysts note that softer US employment data has reduced expectations for an immediate Federal Reserve rate hike.
- •Experts recommend buying on dips due to ongoing market volatility, with key support for MCX gold seen around ₹1.46 to ₹1.48 lakh per 10 grams.
- •Silver has demonstrated relatively stronger price action, holding firmly above the ₹2.25 lakh per kg support level.
Key Questions Answered
On October 6, 2026, MCX gold December futures traded at ₹1.49 lakh per 10 grams (up 0.32%), while silver December futures stood at ₹2.26 lakh per kg (higher by 0.11%).
Nirpendra Yadav sees ₹1.46 lakh as support and ₹1.53–1.55 lakh as resistance for gold, while Vedika Narvekar notes immediate support at ₹1.48 lakh and resistance at ₹1.50 lakh. For silver, Vikram Subburaj highlights ₹2.25 lakh as support and ₹2.28–2.30 lakh as the next zone to watch.
Gold is recovering as softer US employment data reduces expectations of an immediate Fed rate hike, with markets pricing in a 21% probability for October. However, a stronger dollar and elevated US Treasury yields continue to act as headwinds for precious metals.
