Gold and silver prices on the Multi Commodity Exchange of India (MCX) opened lower on Friday, tracking weakness in global bullion markets amid a stronger US dollar. MCX gold started at ₹1,21,148 per 10 grams, down 0.29% from Thursday’s close of ₹1,21,508, while silver declined 0.47% to ₹1,48,140 per kg from ₹1,48,840. By 9:05 AM, gold traded ₹208 lower at ₹1,21,300, and silver fell ₹502 to ₹1,48,338 per kg.
Internationally, gold weakened as the dollar strengthened, fueled by uncertainty over future Federal Reserve rate cuts, although bullion remained on track for its third consecutive monthly gain. The US dollar index stayed near a three-month high, making gold costlier for other currency holders.
Analysts noted that gold faces short-term pressure from fading rate-cut expectations and US-China trade uncertainties, yet central bank demand continues to support the metal. The World Gold Council reported 220 tons of gold purchases by central banks in Q3, a 28% rise from the previous quarter.
For December expiry, MCX gold is expected to trade between ₹1,20,700–₹1,21,700, while silver may range from ₹1,46,750–₹1,49,740, with resistance levels slightly higher.
