Mumbai, October 20, 2026 (Yes Punjab News)
Gold prices remained above Rs 1.47 lakh per 10 grams and silver hovered near Rs 2.10 lakh per kilogram on Tuesday, as Dussehra celebrations kept trading on the Multi Commodity Exchange (MCX) closed during the morning session. Trading in gold, silver and other commodities is scheduled to resume at 5 p.m.
In the previous session on Monday, MCX gold futures for December delivery fell by Rs 618, or 0.42 per cent, to settle at Rs 1,47,300 per 10 grams. Silver futures for December delivery ended largely unchanged at Rs 2,09,825 per kilogram.
According to bullion.co, 24-karat gold in Mumbai was priced at Rs 1,47,340 per 10 grams, while 22-karat gold stood at Rs 1,35,062 per 10 grams.
Despite recent volatility, precious metals have recorded substantial gains over the past year. Gold prices in India have risen more than 25 per cent since Dussehra last year, while silver has delivered returns of around 45 per cent over the same period.
Internationally, gold remained under pressure amid concerns that elevated crude oil prices could fuel inflation and prompt the US Federal Reserve to raise interest rates further. Spot gold edged up 0.1 per cent to $4,144.15 per ounce, while spot silver gained 0.6 per cent to $57.44 per ounce.
Higher US Treasury yields have also weighed on gold, which does not generate interest income. A recovery in US technology stocks reduced demand for government bonds as safe-haven assets, pushing yields higher and making non-yielding precious metals relatively less attractive.
Investors are closely tracking the Federal Reserve’s policy outlook as it seeks to contain inflation. Expectations of higher interest rates remain a key influence on gold prices.
Gold has largely stayed above $4,100 per ounce during October, recovering some stability after declining more than 6 per cent in September. However, it remains around 20 per cent below its levels before the US-Iran conflict began in late February.
FOLLOW NOW
