Gold futures on MCX rose 0.32% to ₹1.49 lakh per 10 g, while silver edged up 0.11% to ₹2.26 lakh per kg, a modest rebound after September’s sharp correction.
Softer U.S. employment data has dampened expectations of an immediate Fed rate hike, yet a firmer dollar and elevated Treasury yields continue to press down on bullion prices. Analysts note that the 21% probability of an October rate increase—down from over 50% a week earlier—adds a layer of uncertainty for the market.
Bonanza’s Nirpendra Yadav flags ₹1.46 lakh per 10 g as a key support zone for MCX gold, with ₹1.53–1.55 lakh as initial resistance. He warns that fresh buying should target dips rather than chase the current recovery, implying a volatile trading environment.
Anand Rathi’s Vedika Narvekar highlights a $4,140 ounce price for gold, with $4,100 as support and $4,200 as resistance internationally. On MCX, she sees ₹1.48 lakh support and ₹1.50 lakh resistance, underscoring the delicate balance between dollar strength and Fed expectations.
Lemonn’s Gaurav Garg points out that the rupee hovering near 96.32 to the dollar is a critical factor for Indian commodity pricing, while crude oil gains amid West Asian supply concerns add another layer of complexity.
Giottus.com CEO Vikram Subburaj notes silver’s resistance at ₹2.28–2.30 lakh/kg, with ₹2.25 lakh as a crucial support level. He also reports visible selling pressure above ₹1.50 lakh per 10 g for gold, signalling potential short‑term corrective moves.