Gold prices rise Rs 1,100/10 gram; silver up Rs 1,050/kg ahead of inflation data. Key levels to track

EconomicTimes2026/09/30 04:51

By:EconomicTimes

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Gold and silver prices snapped a three-day losing streak to open higher on the Multi Commodity Exchange (MCX) on Wednesday, even as expectations of higher interest rates weighed on demand for non-yielding assets. Investors also turned their focus to US inflation data for clues on the Federal Reserve’s policy path.

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In the domestic market, MCX silver futures for September 2026 delivery rose by Rs 1,050 to Rs 2,26,487 per kg. Gold futures for October 2026 delivery gained Rs 1,114 to Rs 1,47,346 per 10 grams.

The US personal consumption expenditures (PCE) price index is due later in the day, while the nonfarm payrolls report is scheduled for release on Friday. According to the CME FedWatch Tool, traders see a 50% probability of a Fed rate hike in October and a 92% chance of a hike in December.

Higher interest rates tend to weigh on gold as investors may favour yield-bearing assets over the non-yielding metal. US consumer confidence fell to a near 12.5-year low in September, with households expecting business and labour market conditions to deteriorate over the next six months amid the Middle East conflict and rising interest rates.

Gold and silver international prices

Spot gold was little changed at $4,178.59 an ounce as of 0037 GMT and was down nearly 6% so far this month. US gold futures rose 0.7% to $4,210.30.

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Among other precious metals, spot silver fell 0.2% to $61.33 an ounce, while platinum rose 0.5% to $1,713.15 and palladium gained 0.5% to $1,228.95. All three metals remained on track for monthly declines.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold has support at $4,164-4,140 per troy ounce, while resistance is placed at $4,220-4,250. For silver, support is seen at $60.60-60.00, with resistance at $62.40-63.00 per troy ounce in Wednesday’s session.

On the MCX, gold has support at Rs 1,47,700-1,47,200 and resistance at Rs 1,49,650-1,50,150, while silver has support at Rs 2,24,000-2,22,000 and resistance at Rs 2,27,000-2,28,800. Jain advised waiting for some stability in the markets before taking fresh positions in gold and silver.

Gold rates in physical markets

Gold price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,09,232 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,152 per 8 grams.

Gold price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,09,112 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,032 per 8 grams.

Gold price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,09,112 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,032 per 8 grams.

Gold price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,09,112 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,19,032 per 8 grams.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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