Gold Silver Rates Today Live Updates: Silver gains 2% on MCX, gold trades flat. Check estimates, key levels

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MCX Gold Silver City-wise Price Live

Gold rate today Live Updates: Gold and silver prices trade higher on MCX ahead of Diwali, even as persistent US inflation and expectations of a Federal Reserve rate hike threaten bullion’s appeal.

Gold and silver prices began Monday’s session on a positive note on MCX ahead of Diwali. However, rising US inflation and hawkish comments from Federal Reserve officials have strengthened expectations of further monetary tightening.

Read More: Gold rate today (November 2, 2026): Check 24k, 22k, 20k and 18k gold jewellery prices in Delhi, Mumbai, Hyderabad & more cities

Higher interest rates could weigh on demand for non-yielding precious metals, keeping investors focused on the central bank’s policy outlook.

1 New Update

Gold has slipped below $4,000 an ounce after scaling a record high of more than $5,595 in January. With analysts warning that the decline may not be over, here are the factors driving the correction.

Gold has fallen to its lowest level in 12 months, as a technology-led equity market rout triggered the liquidation of liquid assets, including bullion, while rising oil prices reinforced expectations of a December Federal Reserve rate hike. The metal declined more than 7% in October, marking its second consecutive monthly loss.

The gold-silver ratio has climbed to around 79, compared with approximately 46 in January, highlighting silver's relative underperformance. Its greater exposure to industrial demand makes the metal more sensitive to concerns over global growth than gold, while subdued physical buying in India and China is adding to the pressure.

Silver’s industrial-demand base could provide a degree of support against a deeper decline. The near-term bias remains cautious, with a sustained move above ₹1,86,000–₹1,88,000 needed to improve the technical outlook. Conversely, a decisive break below ₹1,78,000–₹1,80,000 could open the way for a further decline towards ₹1,70,000–₹1,72,000.

Gold prices bounced on Monday, after a selloff in the previous session, as weaker oil prices tempered inflation concerns, while investors assessed comments from the Federal Reserve for clues on the path of US interest rates. Bullion slumped 3.5% to its lowest since October 2025 on Friday, falling below its key $4,000 per ounce level amid a selloff in technology stocks that led to margin calls, and the forced sale of safe-haven assets such as gold.

MCX Gold is posting more modest gains than MCX Silver, which is seeing a sharper rebound from deeply oversold levels. A firmer rupee is also limiting the upside in domestic gold prices. Both gold and silver declined on the MCX on Friday, tracking the global sell-off amid expectations of tighter U.S. monetary policy.

MCX Gold opened with a gap-up near ₹1,39,000 and is currently trading around the same level, up 0.37%, holding just above the ₹1,37,500–₹1,38,300 support zone.

Standard gold (22 carat) in Hyderabad costs Rs 1,02,000/8 grams, while pure gold (24 carat) is priced at Rs 1,11,496/8 grams.

In Chennai, standard gold (22 carat) is priced at Rs 1,02,200/8 grams, while pure gold (24 carat) costs Rs 1,11,496/8 grams.

Standard gold (22 carat) in Mumbai costs Rs 1,02,200/8 grams, while pure gold (24 carat) is priced at Rs 1,11,496/8 grams.

The price of standard gold (22 carat) in Delhi is Rs 1,02,320/8 grams, while pure gold (24 carat) is priced at Rs 1,11,616/8 grams.

Gold has support at $3,880-3,800 per troy ounce and resistance at $3,940-4,000 per troy ounce in the international market. On MCX, support is placed at Rs 1,36,600-1,35,000, while resistance stands at Rs 1,40,000-1,41,400, according to Manoj Kumar Jain of Prithvi Finmart.

Iranian negotiators held discussions with Qatari mediators in Doha to seek an agreement to end the US-Israeli war on Iran. Meanwhile, European inflation is expected to remain higher than previously forecast, with the ECB's 2% target potentially returning only in 2028. Both developments add to the global uncertainty facing precious metal markets.

Manoj Kumar Jain of Prithvi Finmart expects gold and silver prices to remain volatile this week amid fluctuations in crude oil prices and the dollar index, along with ongoing geopolitical tensions. Investors are also tracking developments in the US and the Middle East.

Three Federal Reserve officials called for further interest rate increases to tackle elevated inflation, while US consumer prices accelerated in September. The developments reinforced expectations of a December rate hike, with traders pricing in a higher probability of monetary tightening.

Spot silver gained over 1% in early trade, while domestic December futures also moved higher on MCX. The recovery came amid volatility in precious metals as investors assessed the US interest rate outlook, geopolitical developments and movements in the dollar.

International gold prices edged higher but continued to trade near their lowest levels since October 2025, after falling below the key $4,000-per-ounce mark in the previous session. Investors are weighing inflation concerns and the possibility of further US monetary tightening.

Gold and silver futures opened higher on MCX ahead of Diwali, recovering despite concerns over persistent US inflation and expectations of a possible Federal Reserve rate hike in December. Silver gained Rs 2,800 to Rs 1,81,925 per kg, while gold rose Rs 613 to Rs 1,39,098 per 10 grams.