Markets India
Gold and silver prices on the Multi Commodity Exchange (MCX) fell sharply, with gold futures dropping Rs 1,400 to Rs 1,38,823 per 10 grams and silver plunging Rs 4,300 to Rs 1,83,779 per kg, driven by inflation fears and rate hike expectations.
The decline in gold and silver prices reflects heightened inflation concerns and a 73% probability of a December Fed rate hike, according to CME data. Gold futures for December 2026 delivery fell Rs 1,400, while silver futures dropped Rs 4,300. Spot gold rose 0.3% to $3,960.80 per ounce, and silver gained 0.3% to $50.79 per ounce. Physical gold prices in Delhi and Mumbai also saw mixed movements, with 22 and 24 carat gold prices fluctuating between Rs 1,02,208 and Rs 1,11,624 per 8 grams. Investors are closely watching US midterm elections and oil price trends, which could further influence market volatility. The price declines signal reduced demand for bullion as a hedge against inflation, with systematic investment plans (SIPs) recommended for long-term investors. Traders face heightened uncertainty amid geopolitical tensions and fiscal policy debates.
US Factory Orders data for September is set to be released later in the day, with investors tracking the outcome of US midterm elections for fiscal policy signals.
Gold and silver prices fell on MCX amid inflation concerns and rate hike expectations, reducing bullion's appeal. Long-term SIPs offer potential for disciplined investors as market volatility persists.
Topics: Markets, Commodities, Gold Prices, Silver Prices, Inflation, Fed Rate Hike, US Elections, MCX, Investment Strategies
#MCXGold #FedRateHike #SilverPrices #InflationConcerns #USMidtermElections #InvestmentStrategies
Source: ET Markets
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