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Gold Price Projection: What to Expect for Gold and Silver During the Festive Season
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News18•18-10-2026, 22:43
Gold Price Projection: What to Expect for Gold and Silver During the Festive Season
- •Gold and silver prices dropped recently, indicating a major surge is unlikely this festive season.
- •MCX gold futures closed 2.4 percent lower at 1.47 lakh rupees per 10 grams last week.
- •Silver plunged by 6.4 percent to settle at 2.11 lakh rupees per kilogram on the exchange.
- •The Indian rupee strengthened significantly against the dollar, lowering domestic gold costs.
- •Experts predict prices will fluctuate within a limited range due to global tensions and crude oil trends.
Key Questions Answered
Currency fluctuations, particularly the strengthening of the Indian rupee against the US dollar due to RBI intervention and trader positioning, caused domestic gold and silver prices to decline.
On the Multi Commodity Exchange, December gold futures fell by 3,581 rupees to settle at 1.47 lakh rupees per 10 grams, while silver plunged by 14,568 rupees to 2.11 lakh rupees per kilogram.
Analysts note that rising tensions in West Asia around the Strait of Hormuz, Brent crude moving toward $110 per barrel, and economic data from China and the US will keep gold and silver fluctuating.
