MCX gold price falls below ₹1.19 lakh after US Federal Reserve cuts interest rates; silver prices also decline over 1%. Get today’s gold and silver rates, market analysis, and expert price outlook.

Gold prices on the Multi Commodity Exchange of India (MCX) opened lower on Thursday, following the US Federal Reserve’s interest rate cut. Silver prices also saw a decline, reflecting a cautious market sentiment as investors awaited developments in the US-China trade negotiations.

MCX Gold and Silver Prices Today

MCX gold for December delivery opened 1.27% lower at ₹1,19,125 per 10 grams, compared to the previous close of ₹1,20,666. At 9:20 AM, gold further fell ₹1,827 (1.51%) to ₹1,18,839 per 10 grams.

Similarly, MCX silver opened 0.4% lower at ₹1,45,498 per kg, down from ₹1,46,081. By 9:20 AM, silver prices declined ₹1,411 (0.97%) to ₹1,44,670 per kg.

Global Gold Trends

In global markets, gold prices inched up slightly, aided by a minor pullback in the US dollar. Spot gold rose 0.2% to $3,937.88 per ounce, while US gold futures for December delivery slipped 1.2% to $3,950.70 per ounce.

The US dollar index fell 0.2% after reaching a two-week high in the previous session, making gold cheaper for holders of other currencies.

also read:- Gold Prices: Check Today’s Rates in Delhi, Mumbai, Ahmedabad, and Other Major Cities 

Impact of US Fed Rate Cut

The US Federal Reserve recently cut interest rates by 25 basis points, the second reduction this year, bringing the benchmark rate to a target range of 3.75% – 4.00%. Fed Chair Jerome Powell emphasized that policymakers are still deliberating on the future of monetary policy and cautioned markets not to assume additional rate cuts by year-end.

“Gold prices held onto most of its recent losses and remained near a three-week low as traders reduced bets on further US rate cuts. With the market assigning less than a 70% chance of another cut this year, and investors closely monitoring US-China trade talks, demand for safe-haven assets has eased,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.

Gold and Silver Price Outlook

Experts expect MCX gold and silver prices to continue showing cautious movement in line with global trends:

• MCX Gold Support: ₹1,19,480 – ₹1,20,070

• MCX Gold Resistance: ₹1,21,450 – ₹1,22,100

• MCX Silver Support: ₹1,43,750 – ₹1,44,950

• MCX Silver Resistance: ₹1,47,240 – ₹1,48,180

On the international front:

• Gold Support: $3,860 – $3,900

• Gold Resistance: $3,995 – $4,040

• Silver Support: $46.15 – $46.80

• Silver Resistance: $48.15 – $48.80

According to analysts, MCX gold may continue its weak momentum with support at ₹1,19,500 per 10 grams, while silver could see moderate fluctuations around its current levels.

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