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Gold and Silver Recover on MCX Driven by Weaker US Dollar and Lower Yields
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CNBC TV18•16-10-2026, 16:09
Gold and Silver Recover on MCX Driven by Weaker US Dollar and Lower Yields
- •MCX gold futures for December delivery rose 0.63 percent to ₹1.48 lakh per 10 grams, while silver gained 1.30 percent to ₹2.13 lakh per kilogram.
- •The recovery was supported by a weaker US dollar and lower Treasury yields as investors assessed future US interest rate policies.
- •Analysts note that gold needs to sustain above ₹1.48 lakh to strengthen recovery, while silver must hold above ₹2.08 lakh for continued momentum.
- •Some fund houses have restricted fresh subscriptions to gold ETFs to moderate investment-driven demand and ease pressure on the rupee.
Key Questions Answered
Gold and silver futures on the MCX recovered following a sharp sell-off due to a weaker US dollar and lower US Treasury yields, which supported bullion prices as investors evaluated US interest rate expectations.
According to Giottus.com CEO Vikram Subburaj, gold needs to sustain above ₹1.48 lakh per 10 grams to maintain its recovery. For silver, it needs to hold above ₹2.08 lakh per kilogram and push past ₹2.11 lakh to build further momentum.
Certain fund houses have restricted fresh subscriptions to moderate investment-driven gold demand amid ongoing concerns regarding gold imports and pressure on the rupee, though existing holdings continue to track domestic gold prices.
