Gold Price Today: MCX Gold Jumps Over 1% as Rate Cut Expectations Lift Sentiment

The gold market opened the week on a strong note, and the jump was visible right from early trade. The tone across global markets shifted overnight, and that momentum spilled into domestic prices as well. As the session unfolded, traders leaned toward safe-haven assets, sending the gold price today higher both internationally and on the MCX.

The move wasn’t a surprise. The past few days have been filled with shifting expectations around interest rates, and gold often reacts first when the tone changes. With global cues turning supportive, the precious metal found fresh strength in morning deals.

Market Performance

Gold started the day with a sharp uptick. On the MCX, both gold and silver opened firm and held their gains through the early hours.

Key MCX Prices (Morning Session):

• MCX Gold December Futures: ₹1,25,106 per 10 grams (up ~1%)
• MCX Silver December Contracts: ₹1,56,551 per kg (up ~1.34%)

This rise in MCX gold and MCX silver came after global benchmarks also rallied strongly in the previous session.

What Lifted Gold Prices Today

The story behind the surge was straightforward. Global markets saw a wave of optimism after expectations grew stronger for a rate cut in the United States. A rate cut scenario tends to make gold more attractive because the yellow metal doesn’t yield interest; lower interest rates reduce the appeal of competing assets.

International gold prices had already rallied nearly 2% in the previous session. Now, domestic markets have simply caught up with that move.

One key data point also added fuel:

• Probability of a December US Rate Cut: 81%
  (versus 40% last week)

Global Cues Remain in Focus

Global markets continue to watch a set of economic data that had been delayed earlier. Key numbers on US retail sales, jobless claims, and producer prices are lined up and could add further direction.

Even without these data points, the broader narrative remains driven by shifting monetary expectations. For now, gold is benefiting from a mix of:

• Lower-rate expectations
• Rising global safe-haven demand
• Stable domestic buying interest during the festive-wedding period

This combination made the gold price today hold firm right from the opening tick.

Market News Overview

The movement in MCX gold and MCX silver stayed aligned with overnight global trends. Domestic traders mirrored the international mood, leading to a firm start for both metals.

This was largely a sentiment-driven move—no sudden domestic shock, no new policy trigger, simply a global shift in expectations that reflected onto Indian bullion prices.

Company or Commodity Details

Since the bullion market is directly linked with global cues, the reaction was immediate. The structure of the early morning trade showed clear interest, especially around gold futures.

Price Snapshot:

• Gold: ₹1,25,106 per 10 grams
• Silver: ₹1,56,551 per kg

Both metals carried forward their overnight positivity.

Summary

The broader picture remained simple and clean:

• Gold price today jumped over 1% on the MCX.
• Silver followed with a gain of 1.34%.
• The move came after global gold prices rose nearly 2% in the previous session.
• Growing expectations of a US rate cut in December played a key role.
• Domestic sentiment stayed firm with ongoing wedding-season demand.