MCX Gold Rate Close To ₹1.13 Lakh Per 10 gm

Gold prices on the Multi Commodity Exchange of India (MCX) opened slightly lower on Thursday, mirroring a steady trend in international bullion markets as investors await key economic data for further direction. The December gold contract opened at ₹1,13,391 per 10 grams, down ₹256 or 0.22% from the previous close of ₹1,13,647. Silver prices also opened lower by ₹1,000 to ₹1,33,002 per kg but soon recovered, trading higher at ₹1,34,415 per kg by 9:15 AM. Meanwhile, gold was trading marginally down at ₹1,13,525 per 10 grams.

Internationally, gold prices remained stable as investors waited on U.S. economic reports to gauge Federal Reserve policy. The dollar’s slight weakening provided some support, with spot gold steady at $3,734.04 per ounce and December futures at $3,765.20. Rahul Kalantri from Mehta Equities noted that despite dollar weakness and strong central bank buying, cautious Fed remarks on inflation and labor markets may limit gold’s gains.

San Francisco Fed President Mary Daly endorsed recent rate cuts and hinted at more reductions. Geopolitical tensions also bolstered gold’s safe-haven appeal. Price support for gold lies between ₹1,12,380 and ₹1,13,000, with resistance near ₹1,14,900. Silver’s support ranges from ₹1,32,750 to ₹1,33,450, with resistance between ₹1,35,850 and ₹1,36,600.