Tag: MCX

  • Gold Prices Slip on MCX Amid Middle East Tensions and Inflation Concerns; Brent Crude Also Declines

    Gold Prices Slip on MCX Amid Middle East Tensions and Inflation Concerns; Brent Crude Also Declines

    Gold futures on the Multi Commodity Exchange (MCX) traded lower on July 16, declining 0.45% to Rs. 1,41,205 per 10 grams, as escalating tensions between the US and Iran fueled inflation worries and reinforced expectations of a Federal Reserve rate hike later this year.

    September silver futures also fell, dropping 0.67% to Rs. 2,19,150. In the energy market, Brent crude futures slipped 0.21% to $84.77 per barrel, while US West Texas Intermediate (WTI) eased 0.09% to $79.53 per barrel.

    According to the CME FedWatch Tool, traders now see a 73% probability of a rate hike by the Fed in December, as the latest geopolitical unrest threatens to keep inflation elevated.

    Domestic Gold Prices

    In the domestic physical market, 24K gold fell by Rs. 28 to Rs. 1,43,290 per 10 grams, while 22K gold declined by Rs. 25 to Rs. 1,31,350. City-wise, Mumbai and Kolkata quoted gold at Rs. 1,43,290, Delhi at Rs. 1,43,400, and Chennai at Rs. 1,43,460.

    US Gold Prices

    Internationally, spot gold dropped 0.6% to $4,034.42 per ounce, and US gold futures for August delivery lost 0.3% to $4,039.90. Spot silver fell 1.1% to $57.14 per ounce. Platinum eased 0.6% to $1,664, while palladium edged 0.3% lower to $1,309.86.

    Key Levels to Watch

    “Gold is declining as the escalating attacks in the Middle East continue to push oil prices sharply higher this week, keeping concerns about inflation alive,” said Jigar Trivedi, Senior Research Analyst at IndusInd Securities. “June’s inflation figures did not reflect the impact of the latest escalation in the US-Iran conflict, as the interim peace union reached last month has effectively unravelled,” Trivedi added.

    Internationally, gold has support at $4,022 and $3,989, while resistance is at $4,084 and $4,110 per troy ounce. Silver has support at $56 and $54.40, with resistance at $58.80 and $60 per ounce. On MCX, gold support is at Rs. 1,41,000 and Rs. 1,40,250, and resistance at Rs. 1,42,650 and Rs. 1,43,300. Silver support is at Rs. 2,17,700 and Rs. 2,14,000, with resistance at Rs. 2,24,000 and Rs. 2,26,600.

  • 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 and Silver Hold Steady as Fed Rate-Hike Bets Ease and Dollar Strengthens

    MCX Gold and Silver Hold Steady as Fed Rate-Hike Bets Ease and Dollar Strengthens

    Gold and silver prices on the Multi Commodity Exchange (MCX) remained largely unchanged on July 6, 2026, as a softer-than-expected US jobs report tempered expectations of further interest rate hikes by the Federal Reserve. However, a stronger US dollar capped gains for the precious metals.

    Domestic Prices

    August gold futures on MCX edged down by 0.02% to Rs. 1,47,351 per 10 grams, while September silver futures slipped 0.19% to Rs. 2,36,966 per kilogram. In the spot market, 24K gold fell by Rs. 11 to Rs. 1,46,620 per 10 grams, and 22K gold declined by Rs. 10 to Rs. 1,34,400. Regional prices varied slightly, with Mumbai and Kolkata quoting Rs. 1,46,620, Delhi at Rs. 1,46,770, and Chennai at Rs. 1,49,450.

    US Gold and Silver Markets

    Internationally, spot gold held steady near a two-week high at $4,174.66 per ounce, supported by a weaker dollar after last week’s job data. US gold futures for August delivery rose 1.5% to $4,186.70 per ounce. Meanwhile, spot silver fell 0.6% to $62.03 per ounce, pulling back from a June 23 high. Platinum declined 0.1% to $1,636.60 per ounce, and palladium lost 0.2% to $1,271.75 per ounce.

    Brent crude futures fell 0.41% to $71.41 a barrel, while US West Texas Intermediate (WTI) dropped 0.28% to $68.50 a barrel.

    Market Outlook and Key Levels

    According to the CME FedWatch Tool, traders now see a 55% chance of a rate hike in September, down from 60% previously. “Gold has regained some poise as markets dial back rate-hike expectations. While this provides relief on the yield front, the dollar’s strength continues to act as a ceiling,” said Tim Waterer, chief market analyst at KCM Trade.

    Manoj Kumar Jain of Prithvifinmart Commodity Research recommended buying gold on dips around Rs. 1,46,000–Rs. 1,45,000 with a stop loss below Rs. 1,43,850 for targets of Rs. 1,48,000 and Rs. 1,49,100. For silver, he suggested buying on dips around Rs. 2,34,400–Rs. 2,31,000 with a stop loss below Rs. 2,27,000 for targets of Rs. 2,41,000 and Rs. 2,44,000.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Analytics Insight does not provide financial guidance on cryptocurrencies or stocks. Readers should conduct their own research (DYOR) before making any investment decisions.

  • MCX Gold Climbs 1.47% to Rs 1,47,900 as US Jobs Data Eases Rate Hike Fears; Silver and Brent Also Gain

    MCX Gold Climbs 1.47% to Rs 1,47,900 as US Jobs Data Eases Rate Hike Fears; Silver and Brent Also Gain

    Gold prices rallied on the Multi Commodity Exchange (MCX) on July 3, buoyed by softer-than-expected US jobs data that lowered expectations for further Federal Reserve interest rate hikes. August gold futures surged 1.47% to Rs 1,47,900 per 10 grams, while September silver futures advanced 1.85% to Rs 2,37,630. In the energy market, Brent crude futures rose 0.61% to $72.34 a barrel, and US West Texas Intermediate (WTI) gained 0.47% to $69.01.

    According to the CME FedWatch Tool, traders now see a 54% probability of a rate hike in September, down from 66% previously. The shift in sentiment followed a lackluster US labor market report, which dampened hawkish Fed expectations and boosted demand for safe-haven assets like gold.

    Domestic Gold Prices

    In the Indian market, 24K gold increased by Rs 322 to Rs 1,47,000 per 10 grams, while 22K gold rose by Rs 295 to Rs 1,34,750. Regional variations were minimal: Mumbai and Kolkata quoted Rs 1,47,000, Delhi Rs 1,47,150, and Chennai Rs 1,49,500.

    US Gold Prices

    Internationally, spot gold climbed 1.4% to $4,179.94 per ounce, and US gold futures for August delivery gained 1.6% to $4,193.20. Spot silver rose 2.3% to $62.43 per ounce, platinum added 2.7% to $1,660.05, and palladium increased 1.3% to $1,284.40.

    Key Levels to Watch

    Kelvin Wong, senior market analyst at OANDA, noted that the market is pricing in fewer Fed rate hikes for the remainder of this year and early next year, driven by the weak US jobs data. However, he cautioned that rate hike expectations have not been completely erased, and gold could still face downside pressure, potentially testing the $3,500/oz level.

    On the international front, gold has support at $4,084 and $4,040 per troy ounce, with resistance at $4,180 and $4,240. Silver support stands at $59.40 and $58, while resistance is at $63 and $64.40. On MCX, gold support is at Rs 1,44,400 and Rs 1,43,350, with resistance at Rs 1,47,100 and Rs 1,48,800. Silver support on MCX is at Rs 2,33,000 and Rs 2,26,600, with resistance at Rs 2,37,700 and Rs 2,41,000.

  • MCX Gold Dips to Rs 1,44,124 as Brent Crude Declines Over 1% – Key Support Levels in Focus

    MCX Gold Dips to Rs 1,44,124 as Brent Crude Declines Over 1% – Key Support Levels in Focus

    Gold traded lower on the Multi Commodity Exchange (MCX) on July 2 amid slightly positive global trends. August gold futures slipped 0.21% to Rs 1,44,124 per 10 grams, while September silver futures edged up 0.54% to Rs 2,231,630. Meanwhile, Brent crude futures fell 1.02% to $70.84 a barrel, and US West Texas Intermediate (WTI) declined 1.09% to $67.83 a barrel.

    According to the CME FedWatch Tool, traders now see a 64% probability of a rate hike by the US Federal Reserve in September, keeping pressure on precious metals.

    Domestic Gold Prices

    In the domestic market, 24K gold rose by Rs 377 to Rs 1,44,550 per 10 grams, while 22K gold advanced by Rs 345 to Rs 1,32,500. City-wise prices: Mumbai and Kolkata both quoted Rs 1,44,550, Delhi at Rs 1,44,700, and Chennai at Rs 1,46,180.

    US Gold Prices

    US gold prices rose on Thursday, supported by softer-than-expected jobs data and lower oil prices. Spot gold climbed 0.7% to $4,057.92 per ounce. US gold futures for August delivery inched 0.3% lower to $4,070.10. Spot silver rose 1.6% to $60.06 per ounce, platinum gained 2% to $1,607.67, and palladium added 1.4% to $1,227.13.

    Key Levels to Watch

    “The market’s cautious about being short down here because you’re seeing a couple of probes to the downside, which are quite rapidly being rejected,” said Nicholas Frappell, global head of institutional markets at ABC Refinery. “ADP data came in a little bit lower than the forecast, so that probably explains gold’s rally as some people think that the data will be reflected in non-farm payrolls.”

    Internationally, gold has support at $4,040 and $3,994, while resistance is at $4,122 and $4,164 per troy ounce. Silver has support at $58.80 and $57.40, with resistance at $61.60 and $63.20 per troy ounce.

    On MCX, gold has support at Rs 1,43,100 and Rs 1,42,000, and resistance at Rs 1,45,500 and Rs 1,46,650. Silver has support at Rs 2,26,600 and Rs 2,22,500, with resistance at Rs 2,34,400 and Rs 2,38,000.

    Also read: Bitcoin and Gold Face Unusual Decline as Investors Face New Market Pressures