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Business & Stocks Economic Times Markets • Oct 08, 2026

MCX Gold Nears Rs 1.5 Lakh per 10 Grams and Silver Rises as US Dollar Softens: Market Analysis and Outlook

💡 Key Takeaways

•MCX December gold futures increased by Rs 557 to settle at Rs 1,49,660 per 10 grams.
•December silver contracts on MCX gained Rs 327 to reach Rs 2,23,888 per kilogram.
•The rally was primarily supported by a weakening US dollar and expectations surrounding US Federal Reserve rate decisions.

NEW DELHI [NCRBuzz Wire] — ### Bullion Market Performance on MCX

**Domestic precious metal futures recorded notable upward momentum on Thursday, underpinned by a softening US dollar index and shifting macroeconomic expectations regarding central bank interventions.** Market participants adjusted their portfolios as international currency pressures provided a favorable entry point for domestic bullion buyers.

### Commodity Metrics Breakdown

| Metric / Aspect | Details |

|---|---|

| MCX Gold (Dec Contract) | Rs 1,49,660 per 10 grams (up Rs 557) |

| MCX Silver (Dec Contract) | Rs 2,23,888 per kg (up Rs 327) |

| Primary Driver | Weaker US Dollar & US Fed Rate Expectations |

| Exchange Platform | Multi Commodity Exchange (MCX) |

### Macroeconomic Outlook and Future Trajectory

**Financial analysts emphasize that domestic gold and silver valuations will remain highly sensitive to upcoming US Federal Reserve policy meetings and global inflation prints.** Investors are advised to monitor currency fluctuations closely as safe-haven demand continues to provide underlying support to precious metal asset classes amid ongoing global market volatility.

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🏛️ Background Context

Precious metals have historically acted as a primary hedge against inflation and currency depreciation, with domestic prices in India reacting directly to international COMEX spot movements, rupee-dollar exchange rates, and domestic import duties.

💡 Citizen & Commuter Quick Explainer (FAQ)

Q1: What are the current trading prices for gold and silver on MCX?

MCX December gold is priced at Rs 1,49,660 per 10 grams, while December silver is trading at Rs 2,23,888 per kilogram.

Q2: What are the primary factors driving the current precious metals rally?

The upward momentum is primarily driven by a weakening US dollar index and market expectations of upcoming US Federal Reserve rate adjustments.

Q3: How do international currency shifts impact domestic bullion prices in India?

A weaker US dollar typically increases global commodity valuations in dollar terms, which translates to higher landed costs and rising retail and futures prices in the Indian market.

Verified Wires: Economic Times Markets Original Wire Dispatch ↗

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