Gold price today rises on MCX amid weak US Dollar and Fed caution. MCX gold at ₹1,26,905/10g, silver at ₹1,64,805/kg. Key levels to watch revealed by experts.

Gold Price Today: Gold and silver prices on domestic MCX futures continued their upward momentum on Friday, November 14, driven by a weakening US Dollar and cautious comments from Federal Reserve officials that reduced expectations of a rate cut in December.

As of 9:15 AM, MCX gold December contracts were trading 0.12% higher at ₹1,26,905 per 10 grams, while MCX silver December futures rose 0.21% to ₹1,64,805 per kilogram.

The Dollar Index was heading for its second consecutive weekly decline against major currencies, boosting gold’s appeal for buyers using alternative currencies.

US Fed and Market Outlook

Concerns over inflation, coupled with signals that the labor market is stabilizing after two rate cuts this year, have prompted several Federal Reserve officials to express caution regarding further policy easing.

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The Fed reduced rates by 25 basis points last month. However, Chair Jerome Powell maintained a cautious tone on the probability of another cut this year, citing insufficient supporting economic data.

According to CME Group’s FedWatch tool, traders currently assign a 51% chance to a quarter-point rate cut in December, down from 64% in the previous session. This indicates tempered market expectations as investors adjust to a slower pace of monetary easing.

Additionally, the U.S. government has resumed operations after a record 43-day shutdown, which had disrupted economic data releases and created uncertainty among investors.

Key Levels for Gold and Silver

Jigar Trivedi, Senior Research Analyst at Reliance Securities, noted that expectations for a December Fed rate cut have been scaled back, with roughly a 50% probability now assigned to a 25-basis-point reduction. In contrast, expectations for rate cuts in 2026 remain largely unchanged.

Investors are advised to monitor key support and resistance levels for gold and silver in the coming sessions, as Fed policy updates, the US Dollar movement, and inflation data continue to influence precious metal prices.