Gold & Silver Futures Up 1% as Rupee Weakness Offers Range‑Bound Support

Gold futures for December delivery surged ₹1,109—almost 1%—to ₹151,000 per 10 grams, while silver slid ₹122 to ₹225,000 per kilogram, marking a one‑week swing that outpaced the broader commodity corridor.

On the global stage, Comex gold climbed 1.3% to $4,216.3 an ounce and silver edged up 1% to $61.05, reflecting a modest lift in industrial metals and a slight rebound in precious‑metal sentiment.

The domestic rally was underpinned by a 102‑level dollar and a 0.4% fall in 10‑year Treasury yields, a combination that, according to Jateen Trivedi of LKP Securities, gives rupee‑denominated bullion a price cushion against Comex volatility.

Yet the upside faces headwinds: a potential US‑Iran flare‑up and expectations of a 2027 supply surplus could damp demand, Mer warned, noting that geopolitical jitters often sap bullish momentum in bullion markets.

Investors will now eye India’s CPI, China’s retail sales and US Fed minutes for clues about rate hikes or pauses, with market analysts expecting a narrow, mildly positive bias in the next week as the rupee remains weak.