Gold Futures Drop Rs 800 While Silver Rises Rs 1,000 on MCX

MCX gold futures for October 2026 delivery ended lower, down Rs 800 at Rs 1,52,171 per 10 grams. Silver futures for September 2026 delivery rose Rs 1,000 to close at Rs 2,39,008 per kilogram. The divergence reflects mixed signals from global monetary policy and commodity markets.

Central bank decisions shape metal outlook

The Federal Reserve raised interest rates on Wednesday and signaled further hikes. Sixteen of eighteen policymakers expect at least one more 25-basis-point increase by year-end. The Bank of England held rates steady but warned of potential future increases. The Bank of Japan is expected to raise rates to a 31-year high on Friday.

Global spot prices show mixed trends

Spot gold increased 0.3 percent to $4,352.60 per ounce. US gold futures for December delivery fell 0.2 percent to $4,391.60. Spot silver climbed 0.7 percent to $65.64 per ounce. Platinum gained 0.9 percent to $1,785.55, while palladium edged up 0.1 percent to $1,292.47.

Technical levels define trading ranges

Manoj Kumar Jain of Prithvi Finmart noted high volatility is expected. He identified gold support at $4,355 to $4,310 and resistance at $4,440 to $4,484. Silver support sits at $64.80 to $63.50 with resistance at $67.40 to $68.80. On the MCX, gold support is at Rs 1,51,650 to Rs 1,50,500 and resistance at Rs 1,53,800 to Rs 1,55,000. Silver support is at Rs 2,36,000 to Rs 2,33,300 and resistance at Rs 2,40,400 to Rs 2,43,000. Jain advised booking profits on long positions during price rises.