Gold price today moved higher in the early session, and the market tone felt noticeably steadier after days of volatility. As the dollar softened and spot demand improved, both gold and silver found some breathing room on the MCX. The recovery may be mild, but it comes after a sharp wave of profit-booking that swept through the precious metals market across India.
The mood was noticeably calmer this morning, almost as if the market was trying to catch its breath and rebuild footing after weeks of intense movement.
Market Performance: MCX Gold and Silver Edge Higher
The early trade opened with a firmer tone across the precious metals market.
- MCX Gold December futures: up 0.39% at ₹1,21,708 per 10 grams
- MCX Silver December futures: up 0.69% at ₹1,49,307 per kg
- Dollar index: eased 0.10%, offering mild support
- Recent spot gold drop: nearly ₹9,400 per 10 grams in two weeks
- Recent silver decline: almost ₹22,000 per kg in two weeks
The slight recovery on MCX felt more like the market resetting after a steep correction. Short-covering also contributed, especially after global cues turned less aggressive.
Main News: Profit-Booking, Rate Moves & Dollar Weakness Shape Gold Rate Today
A softer dollar helped gold prices in India stabilize, but the underlying story of the last few sessions has been intense profit-booking.
The drop followed the US Federal Reserve’s 25-basis-point rate cut on October 29, its second cut this year. The benchmark overnight lending rate now stands at 3.75%–4.00%.
However, what truly shook the market was the Fed’s signal of no additional rate cuts in December, which cooled expectations instantly. That shift in sentiment dragged global gold prices lower and spilled over to MCX Gold and MCX Silver.
Back home, spot markets saw a heavy round of selling. Traders locked in gains after an extended rally, bringing gold prices India sharply off their highs. Silver mirrored the move with even deeper cuts.
Company Details: All-Time Highs Still Fresh in Memory
The recent correction feels steep mainly because gold and silver were trading near record highs just weeks ago.
- MCX Gold December futures all-time high: ₹1,32,294 per 10 grams (October 17)
- MCX Silver December 2025 futures all-time high: ₹1,70,415 per kg (October 17)
From those peak levels, MCX Gold has slipped nearly 8%, led by lower expectations of US rate cuts and an easing global backdrop following developments around US-China trade negotiations.
Even with today’s mild recovery, the memory of those all-time highs still sets the tone in market conversations.
Gold and Silver Price Movement: A Quick Breakdown
Here’s the clean snapshot of where things stand:
Gold Price Today
- Trading higher at ₹1,21,708 per 10 grams
- Dollar weakness offering support
- Recently witnessed over 7% decline in spot markets
Silver Price Today
- Trading near ₹1,49,307 per kg
- Sharp correction of 13% in spot markets during last two weeks
Summary
Gold price today in India opened firm as MCX Gold and MCX Silver clawed back some ground after heavy selling. A slightly weaker dollar and healthy spot market demand offered support, helping metals stabilize after significant two-week corrections. While gold and silver remain well below their October highs, today’s uptick hints at early signs of consolidation.
The market remains data-driven, global cues continue to influence sentiment, and traders remain cautious after the recent volatility—but for now, MCX Gold and MCX Silver have found some traction.
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