Gold price today: MCX gold rate rises above ₹1.10 lakh per 10 grams; silver price surpasses ₹1.32 lakh per kg

Gold prices on Multi Commodity Exchange of India (MCX) opened over half a percent higher on Monday, while silver price jumped nearly 2%, tracking gains in international bullion prices, ahead of US inflation data and a slew of speeches from US Federal Reserve officials this week.

MCX gold rate opened 0.50% higher at ₹1,10,402 per 10 grams as against Friday’s close of ₹1,09,847 level. MCX silver price opened 0.63% higher at ₹1,30,658 per kg as compared with its previous close of 1,29,838 level.

At 9:10 AM, MCX gold price was trading higher by ₹677, or 0.62%, at ₹1,10,524 per 10 grams, while MCX silver rate was up by ₹2,371, or 1.83%, at ₹1,32,209 per kg.

In the international market, spot gold price rose 0.1% to $3,688.76 per ounce, while US gold futures for December delivery gained 0.5% to $3,723.70. Spot silver price rose 0.3% to $43.20 per ounce, hovering near a 14-year high.

“Gold prices hover near record levels, as investors looked ahead to key US inflation data and comments from several Federal Reserve officials this week for further policy guidance. The yellow metal has also been supported by safe-haven demand amid ongoing geopolitical tensions and concerns over the economic impact of President Donald Trump’s tariffs, alongside robust central bank buying and sustained ETF inflows,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.

Meanwhile, weakness in Indian rupee and tepid sentiment in the domestic equity markets also supported gold prices.

Investors now focus on the release of the US core Personal Consumption Expenditure (PCE) price index, the central bank’s preferred inflation gauge, on Friday.

Last week, the US Federal Reserve cut interest rates by 25 basis points (bps) and signalled potential further easing. Investors expect two more rate cuts this year — 25 bps each in October and December.

Gold prices perform well in a low-interest-rate environment, and have delivered more than 40% returns this year, led by geopolitical and economic uncertainty, central bank buying, and monetary policy easing.

Gold Price Outlook

Trivedi expects MCX gold price for October futures may appreciate to ₹1,10,500 per 10 grams amid a positive undertone in the international market.

Rahul Kalantri, VP Commodities, Mehta Equities Ltd said that gold prices have support at $3,655 - $3,635, while resistance at $3,705 - $3,725. Silver price has support at $42.75 - $42.50, while resistance is at $43.40 - $43.60.

“MCX gold price has support at ₹1,09,680 - ₹1,09,380, while resistance at ₹1,10,350 - ₹1,10,600. MCX silver rate has support at ₹1,29,450 - ₹1,29,050, while resistance at ₹1,30,850 - ₹1,31,600 levels,” Kalantri said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.