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Gold Edges Higher, Silver Surges Nearly 2%: Key Cues for Bullion This Week
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CNBC TV18•05-10-2026, 07:29
Gold Edges Higher, Silver Surges Nearly 2%: Key Cues for Bullion This Week
- •Gold and silver prices rose on Monday, tracking movements in the US dollar, Treasury yields, and geopolitical developments after a sharp correction last week.
- •COMEX gold was up 0.47% at $4,182 per ounce, while silver gained 1.96% to $61.60 per ounce on October 5.
- •A stronger US dollar and elevated bond yields previously weighed on bullion, prompting profit-booking despite earlier support from softer US employment data.
- •The US dollar and Treasury yields remain key drivers for gold, with geopolitical developments like the US-Iran situation also influencing volatility and safe-haven demand.
- •Investors will monitor the Reserve Bank of India's monetary policy decision and global economic data, including services PMI, US trade figures, and consumer sentiment, for further cues.
Key Questions Answered
On October 5, 2026, COMEX gold traded at $4,182 per ounce (up 0.47%) and silver traded at $61.60 per ounce (higher by 1.96%).
In the previous week, December delivery gold futures on COMEX declined 3.7% to close at $4,162.3 per ounce, while silver fell 6.7% to $60.41 per ounce. On the MCX, gold ended down about 2% at around ₹1.5 lakh per 10 grams and silver fell nearly 4% to around ₹2.25 lakh per kg.
Bullion prices are primarily driven by the US dollar, Treasury yields, and geopolitical developments such as the unresolved US-Iran situation. Investors are also closely monitoring upcoming events like the Reserve Bank of India's monetary policy decision and global economic data.
