Tag: commodity market

  • MCX Gold Edges Up 0.21% to ₹1,53,309 as Oil Prices Drop Over 1% – September 18 Update

    MCX Gold Edges Up 0.21% to ₹1,53,309 as Oil Prices Drop Over 1% – September 18 Update

    Gold traded higher on the Multi Commodity Exchange (MCX) on September 18, 2026, supported by a significant decline in crude oil prices. October gold futures rose 0.21% to ₹1,53,309 per 10 grams, while September silver futures advanced 0.55% to ₹2,39,522 per kilogram.

    The fall in oil prices was notable: Brent crude futures dropped 1.06% to $103.7 per barrel, and US West Texas Intermediate (WTI) fell 1.08% to $100.8 per barrel. Lower oil prices generally ease inflation pressures and reduce the opportunity cost of holding non-interest-bearing assets like gold, which supported the precious metal.

    Domestic Gold Prices

    In the domestic market, 24K gold rose by ₹154 to ₹1,54,420 per 10 grams, while 22K gold gained ₹145 to ₹1,41,50. Prices varied across cities: Mumbai and Kolkata recorded ₹1,54,420, Delhi at ₹1,54,570, and Chennai at ₹1,53,590.

    US Gold Prices

    Internationally, spot gold inched up 0.57% to $4,336.64 per ounce on Friday, aided by a subdued US dollar and falling oil prices. US gold futures gained 0.14% to $4,405.75 per ounce. Other precious metals also advanced: spot silver rose 1.38% to $66.11, platinum gained 1.46% to $1,798.36, and palladium climbed 2.38% to $1,313.50.

    Key Levels & Analyst Insight

    According to Ahmad Assiri, research strategist at Pepperstone, the link between gold and oil could weaken if oil corrects sharply, easing inflation and rate-hike expectations, or if extreme geopolitical tensions force global recession measures. Goldman Sachs maintained its end-2027 gold price forecast at $5,400 despite recent Fed rate increases, stating that tighter policy may slow bullion’s rally but not derail it.

    On MCX, gold has support at ₹1,51,650 and ₹1,50,500, with resistance at ₹1,53,800 and ₹1,55,000. For silver, support lies at ₹2,36,000 and ₹2,33,300, while resistance is at ₹2,40,400 and ₹2,43,000.

  • MCX Gold Slips 0.14% to Rs 1,52,370 as Middle East Tensions and Fed Rate Hike Expectations Weigh

    MCX Gold Slips 0.14% to Rs 1,52,370 as Middle East Tensions and Fed Rate Hike Expectations Weigh

    Gold prices moved lower on the Multi Commodity Exchange (MCX) on September 9, pressured by rising inflationary concerns after fresh attacks on ships in the Middle East and growing expectations of a US interest rate hike. October gold futures fell 0.14% to Rs 1,52,370 per 10 grams, while September silver futures declined 0.13% to Rs 2,39,113.

    Oil Prices Edge Higher

    Brent crude futures climbed 1.46% to USD 99.35 per barrel, while US West Texas Intermediate (WTI) rose 1.30% to USD 94.24 per barrel, adding to inflation worries in global markets.

    Fed Rate Hike Expectations

    According to the CME FedWatch Tool, markets currently price in a 39.5% probability that the Federal Reserve will keep rates unchanged in September, and a 60.5% chance of a rate hike. The possibility of higher borrowing costs continues to cap gold’s upside momentum.

    Domestic Gold Prices

    In the Indian domestic market, 24K gold fell by Rs 104 to Rs 1,54,310 per 10 grams, while 22K gold declined by Rs 95 to Rs 1,41,450. City-wise, Mumbai and Kolkata quoted gold at Rs 1,54,310, Delhi at Rs 1,54,460, and Chennai at Rs 1,54,310.

    US Gold Prices and Other Metals

    In the international market, spot gold rose 0.56% to USD 4,380.01 per ounce. US gold futures for December delivery dropped 0.38% to USD 4,422.31. Spot silver gained 0.73% to USD 66.23 per ounce, platinum rose 0.78% to USD 1,833.60, and palladium firmed 0.28% to USD 1,349.50.

    Key Levels to Watch

    “Gold is range-bound because it is capped by a higher probability of raising interest rates, which continues to hinder momentum in the market,” said Daniel Pavilonis, senior market strategist at Stone X.

    Ahmad Assiri, market strategist at Pepperstone Group Ltd, noted: “A softer reading will be a relief for gold traders, as it would support the case for holding rates steady. The greater risk lies in an upside inflation surprise, which would likely strengthen the case for a hike, creating what could be massive pressure on the precious metal.”

    Internationally, gold is likely to find support at USD 4,400–USD 4,365 per troy ounce, with resistance at USD 4,474–USD 4,510. Silver support is at USD 65.80–USD 64.70, while resistance is placed at USD 68–USD 69.10 per troy ounce.

    On the MCX, gold has support at Rs 1,51,500–Rs 1,50,150 and resistance at Rs 1,53,300–Rs 1,54,100. Silver is expected to find support at Rs 2,37,700–Rs 2,35,000, with resistance at Rs 2,41,400–Rs 2,44,000.

  • MCX Gold Rises 0.61% to ₹1,49,401 as Softer Dollar and Strait of Hormuz Hopes Boost Sentiment

    MCX Gold Rises 0.61% to ₹1,49,401 as Softer Dollar and Strait of Hormuz Hopes Boost Sentiment

    Gold prices climbed on the Multi Commodity Exchange (MCX) on August 6, buoyed by a softer U.S. dollar, lower oil prices, and growing optimism that the Strait of Hormuz may reopen soon after U.S. President Donald Trump pledged to reach an agreement with Iran.

    August gold futures rose 0.61% to ₹1,49,401 per 10 grams, while September silver futures advanced 0.23% to ₹2,28,115. Meanwhile, Brent crude futures slipped 0.11% to $79.32 per barrel, and U.S. West Texas Intermediate (WTI) edged down 0.20% to $75.07 per barrel.

    Domestic Gold Prices

    In the domestic market, 24K gold rose by ₹398 to ₹1,49,730 per 10 grams, and 22K gold advanced by ₹365 to ₹1,37,250. City-wise rates: Mumbai and Kolkata quoted ₹1,49,730, Delhi ₹1,49,860, and Chennai ₹1,47,060.

    U.S. Gold Prices

    U.S. gold prices extended gains for a fourth consecutive session, touching their highest level in seven weeks. A soft U.S. dollar and lower Treasury yields, combined with hopes of the Strait of Hormuz reopening, supported the rally. Spot gold rose 0.5% to $4,265.22 per ounce, while U.S. gold futures gained 0.5% to $4,324.60.

    Spot silver fell 0.1% to $62.02, platinum climbed 1.2% to $1,755.18, and palladium advanced 0.8% to $1,374.33, marking its third straight session of gains.

    Key Levels to Watch

    “The sharp rally came on building optimism that a diplomatic breakthrough in the Middle East is close to being finalised. This in turn would keep downside pressure on oil prices and reduce the need for central banks to raise rates, providing a clear tailwind for gold,” said Tony Sycamore, market analyst at IG.

    Sycamore added that a sustained break above the 200-day moving average could pave the way for a stronger recovery toward the $5,000 mark.

    On MCX, gold is currently trading in a broader range of ₹1,45,000 to ₹1,52,000 per 10 grams, with a narrower range of ₹1,47,000 to ₹1,50,000. Resistance is seen at ₹1,50,000; a breakout above this level could push prices toward ₹1,52,000. Internationally, COMEX gold faces immediate resistance at $4,320 per ounce. A break above this level could target $4,350.

  • MCX Gold Climbs 0.85% to Rs. 1,45,475 as U.S. Dollar Weakens

    MCX Gold Climbs 0.85% to Rs. 1,45,475 as U.S. Dollar Weakens

    Gold futures on the Multi Commodity Exchange (MCX) traded higher on August 5, supported by a softer U.S. dollar and falling crude oil prices, while investors await the Reserve Bank of India’s Monetary Policy Committee (RBI MPC) decision later today.

    August gold futures rose 0.85% to Rs. 1,45,475 per 10 grams, and September silver futures gained 1.14% to Rs. 2,24,150. Meanwhile, Brent crude futures declined 1.18% to $78.42 per barrel, and U.S. West Texas Intermediate (WTI) edged down 1.57% to $74.58 per barrel.

    Domestic Gold Prices

    In the domestic market, 24K gold advanced by Rs. 175 to Rs. 1,45,750 per 10 grams, while 22K gold rose by Rs. 160 to Rs. 1,33,600. City-wise prices remained consistent: Mumbai and Kolkata quoted Rs. 1,45,750, Delhi Rs. 1,45,900, and Chennai Rs. 1,45,750.

    U.S. Gold Prices

    Internationally, gold prices rose for a third consecutive session on Wednesday, aided by a softer dollar and lower oil prices, as traders looked ahead to U.S. jobs data for hints on the interest-rate outlook. Spot gold was up 1.3% at $4,127.04 per ounce, and U.S. gold futures rose 0.8% to $4,184.40. Spot silver gained 1.9% to $60.64 per ounce, platinum climbed 1.4% to $1,758.35, and palladium advanced 0.9% to $1,365.62.

    Key Levels to Watch

    “Gold’s relation with oil is still intact, as oil prices have a tremendous impact on the global economy in terms of inflationary pressure. If we get a very clear roadmap to further de-escalation in tensions, gold prices could move higher,” said Kelvin Wong, senior market analyst at OANDA.

    Internationally, gold has support at $4,120 and $4,089, with resistance at $4,184 and $4,222 per troy ounce. Silver has support at $59.10 and $58.40, with resistance at $61.60 and $62.80 per troy ounce.

    On MCX, gold has support at Rs. 1,43,350 and Rs. 1,42,600, with resistance at Rs. 1,45,000 and Rs. 1,45,550. Silver has support at Rs. 2,20,000 and Rs. 2,17,700, with resistance at Rs. 2,23,000 and Rs. 2,25,500.

  • Gold Prices Slip 0.48% on MCX to ₹1,41,800 as US Dollar Strengthens; Key Support and Resistance Levels in Focus

    Gold Prices Slip 0.48% on MCX to ₹1,41,800 as US Dollar Strengthens; Key Support and Resistance Levels in Focus

    Gold traded lower on the Multi Commodity Exchange (MCX) on Tuesday, July 28, as a stronger US dollar and anticipation of the Federal Reserve’s monetary policy decision weighed on the precious metal. August gold futures declined by 0.48%, settling at ₹1,41,800 per 10 grams.

    September silver futures also took a hit, falling 1.73% to ₹2,17,343. In the energy sector, Brent crude futures dropped 1.20% to $87.30 per barrel, while US West Texas Intermediate (WTI) edged down 1.16% to $81.65 per barrel.

    The decline comes as the US dollar index hovered near 101.5 ahead of the Fed’s rate decision scheduled for July 29. According to the CME FedWatch Tool, traders now price in an 81% chance of a rate hike in September, adding pressure on gold prices.

    Domestic Gold Prices

    In India, 24K gold fell by ₹169 to ₹1,44,170 per 10 grams, while 22K gold declined by ₹155 to ₹1,32,150. Prices varied slightly across major cities:

    • Mumbai: ₹1,44,170
    • Kolkata: ₹1,44,170
    • Delhi: ₹1,44,320
    • Chennai: ₹1,44,160

    US Gold Prices

    Across the Atlantic, spot gold fell 0.7% to $4,044.81 per ounce, after rising about 1% on Monday. US gold futures for August delivery lost 0.8% to $4,045.40. Other precious metals mirrored the decline: spot silver dropped 1.9% to $57.30, platinum lost 1% to $1,605.14, and palladium slid 1.6% to $1,271.09.

    Key Levels to Watch

    Market analysts remain cautious ahead of the Fed’s decision. Ilya Spivak, Head of Global Macro at Tastylive, commented: “We’re oscillating in this narrow range between $3,950 and $4,200, and I think the market is just waiting for Fed signals.” Spivak added that if the Fed meeting does not set the groundwork for a September rate hike, gold is likely to rally above $4,200 per ounce.

    Key support and resistance levels for traders:

    • International Gold: Support at $4,034 and $4,000; resistance at $4,110 and $4,140 per troy ounce.
    • International Silver: Support at $57.20 and $56.60; resistance at $59.40 and $60 per troy ounce.
    • MCX Gold: Support at ₹1,42,200 and ₹1,41,400; resistance at ₹1,44,000 and ₹1,45,150.
    • MCX Silver: Support at ₹2,19,100 and ₹2,17,000; resistance at ₹2,24,000 and ₹2,26,600.

    As always, investors are advised to monitor global cues, the dollar index, and Fed statements for further direction in gold and silver prices.

  • MCX Gold Slips 0.48% to ₹1,44,984 as Profit Booking Emerges; Brent Crude Jumps 2.30% to $96.23

    MCX Gold Slips 0.48% to ₹1,44,984 as Profit Booking Emerges; Brent Crude Jumps 2.30% to $96.23

    Gold prices on the Multi Commodity Exchange (MCX) experienced a decline on July 23, driven by profit booking after a 2% surge in the previous session. The retreat comes amid ongoing geopolitical tensions and rising crude oil prices.

    August gold futures fell 0.48% to ₹1,44,984 per 10 grams, while September silver futures dropped 0.40% to ₹2,26,090 per kilogram. Meanwhile, Brent crude futures climbed 2.30% to $96.23 per barrel, and US West Texas Intermediate (WTI) advanced 1.81% to $88.40 per barrel.

    Domestic Gold Prices

    In the Indian market, 24K gold rose by ₹77 to ₹1,47,280 per 10 grams, while 22K gold increased by ₹70 to ₹1,35,000. City-wise prices showed Mumbai and Kolkata at ₹1,47,280, Delhi at ₹1,47,420, and Chennai at ₹1,46,520.

    US Gold Prices

    In the United States, gold prices held steady on Thursday, pulling back from two-week highs reached in the previous session. The escalating Middle East conflict, particularly the US-Iran tensions, continued to push oil prices higher. Spot gold was little changed at $4,132.01 per ounce, while US gold futures for August delivery fell 0.4% to $4,134.60.

    Spot silver gained 0.3% to $59.90 per ounce, platinum rose 0.7% to $1,656.24, and palladium advanced 0.8% to $1,301.25.

    Key Levels and Analyst Insights

    “Oil continues to be up, adding to pressures of inflation and expectations of Fed interest rate hikes, capping a positive undertone in gold as the dollar weakens,” said Jigar Trivedi, a senior research analyst at IndusInd Securities.

    According to the CME FedWatch Tool, traders now see a 77% chance of a September rate hike by the US Federal Reserve. Key support levels for MCX gold are at ₹1,44,400 and ₹1,43,350, while resistance stands at ₹1,46,800 and ₹1,48,000. For silver, support is at ₹2,24,400 and ₹2,22,000, with resistance at ₹2,29,100 and ₹2,31,000.

    “We suggest long-term investors must hold their long positions in gold and silver, but traders can book profits in every market rise in gold around ₹1,47,000 and ₹1,48,000 range and in silver around ₹2,31,000 and ₹2,33,000 range,” advised Manoj Kumar Jain of Prithvifinmart Commodity Research.

    Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should consult with a qualified financial advisor before making investment decisions.

  • Gold Prices Slide on MCX as Middle East Tensions and Fed Rate Hike Expectations Dampen Sentiment

    Gold Prices Slide on MCX as Middle East Tensions and Fed Rate Hike Expectations Dampen Sentiment

    Gold futures on the Multi Commodity Exchange (MCX) declined on July 9, driven by renewed geopolitical tensions between the US and Iran and growing expectations of aggressive monetary tightening by the Federal Reserve. August gold futures slipped 0.24% to Rs. 1,43,371 per 10 grams, while September silver futures dropped 0.44% to Rs. 2,22,464.

    On the global front, Brent crude oil futures rose 1.05% to $78.84 a barrel, and US West Texas Intermediate (WTI) crude advanced 1.07% to $74.31 a barrel, as market participants priced in the increased risk premium from the unstable US-Iran ceasefire agreement.

    According to the CME FedWatch Tool, traders now see a 68% probability of a Fed rate hike in September, up from 63% previously. This repricing of a possible second interest rate hike as early as Q1 next year has been a key factor pressuring gold prices, according to Kelvin Wong, senior market analyst at OANDA.

    Domestic and US Gold Prices

    In India, 24K gold fell by Rs. 11 to Rs. 1,43,240 per 10 grams, while 22K gold declined by Rs. 10 to Rs. 1,31,300. City-wise, Mumbai and Kolkata recorded prices at Rs. 1,43,240, Delhi at Rs. 1,43,390, and Chennai at Rs. 1,44,220.

    Internationally, spot gold dropped 0.4% to $4,060.46 per ounce, hovering near a one-week low. US gold futures for August delivery were down 0.3% at $4,069.80. Spot silver fell 0.9% to $57.77 per ounce, while platinum rose 0.8% to $1,591.13 and palladium gained 0.8% to $1,223.95.

    Key Levels to Watch

    Analysts have identified key support and resistance levels for gold and silver. Internationally, gold has support at $4,055 and $4,010 and resistance at $4,122 and $4,150 per troy ounce. Silver has support at $57 and $55.50 and resistance at $60 and $61.40.

    On the MCX, gold has support at Rs. 1,43,100 and Rs. 1,42,200 and resistance at Rs. 1,44,400 and Rs. 1,45,150. Silver has support at Rs. 2,20,000 and Rs. 2,16,600 and resistance at Rs. 2,26,600 and Rs. 2,30,000.

    Market participants will continue to monitor developments in the Middle East and any new signals from the Federal Reserve regarding the timing of policy tightening, which could further influence precious metal prices.

  • MCX Gold Slips 0.63% to Rs 1,45,990 as Brent Crude Rises; Fed Minutes in Focus

    MCX Gold Slips 0.63% to Rs 1,45,990 as Brent Crude Rises; Fed Minutes in Focus

    Gold prices edged lower on the Multi Commodity Exchange (MCX) on July 7, as investors turned cautious ahead of the release of the US Federal Reserve’s minutes from its June policy meeting. The August gold futures contract declined 0.63% to settle at Rs 1,45,990 per 10 grams, while September silver futures dropped 1.23% to Rs 2,33,201.

    In the energy market, Brent crude futures gained 0.60% to $72.42 a barrel, and US West Texas Intermediate (WTI) crude rose 0.51% to $68.90 a barrel. The rise in crude prices added to inflationary concerns, which weighed on bullion demand.

    According to the CME FedWatch Tool, market expectations for a September rate hike by the Federal Reserve have eased slightly to 56%, down from 60% previously. The upcoming Fed minutes are expected to provide further clarity on the central bank’s monetary policy trajectory.

    Domestic Gold Prices

    In the domestic spot market, 24K gold fell by Rs 136 to Rs 1,45,260 per 10 grams, while 22K gold declined by Rs 125 to Rs 1,33,150. Regional variations were observed: Mumbai and Kolkata quoted gold at Rs 1,45,260, Delhi at Rs 1,45,410, and Chennai at Rs 1,47,920.

    US Gold Prices

    Internationally, gold prices eased on Tuesday, trading below a two-week high. Spot gold slipped 0.6% to $4,138.32 per ounce, while US gold futures for August delivery fell 0.4% to $4,149.90. Among other precious metals, spot silver declined 1% to $61.48 per ounce, platinum eased 0.1% to $1,629.46, and palladium rose 0.4% to $1,272.85.

    Key Levels to Watch

    Nicholas Frappell, global head of institutional markets at ABC Refinery, noted that gold price action reflects a continuation of last week’s pattern, with the market forming a support base while awaiting direction from the Fed minutes.

    Internationally, gold has support at $4,135 and $4,100 per troy ounce, with resistance at $4,194 and $4,220. Silver support stands at $61.20 and $59.80, with resistance at $63.40 and $64.20. On MCX, gold support is at Rs 1,46,100 and Rs 1,45,500, while resistance is at Rs 1,47,400 and Rs 1,48,200. Silver support on MCX is at Rs 2,33,300 and Rs 2,30,000, with resistance at Rs 2,38,800 and Rs 2,41,000.

    Market participants remain focused on the Fed’s policy outlook, which will likely dictate the near-term direction for gold and other commodities.