Gold slips below Rs 1.53 lakh per 10g; silver drops Rs 1,814/kg on MCX
MCX gold October futures fell Rs 988, or 0.64%, to Rs 1,53,393 per 10 grams on Sept. 21. Silver December futures declined Rs 1,814, or 0.75%, to Rs 2,39,789 per kg, easing near-term input-cost pressure for India’s jewellery retailers.
What happened
Multi Commodity Exchange (MCX) · Domestic gold futures fell nearly Rs 1,000 below Rs 1,53,400 per 10 grams, while silver declined Rs 1,814 per kg. Higher US
Key facts
- Gold October futures: Rs 1,53,393 per 10 grams, down Rs 988 (0.64%)
- Previous gold close: Rs 1,54,381 per 10 grams
- Gold intraday range: Rs 1,53,050-Rs 1,54,059 per 10 grams
- Silver December futures: Rs 2,39,789 per kg, down Rs 1,814 (0.75%)
- Previous silver close: Rs 2,41,603 per kg
What changed
Domestic gold futures fell nearly Rs 1,000 below Rs 1,53,400 per 10 grams, while silver declined Rs 1,814 per kg. Higher US Treasury yields and expectations of further Federal Reserve rate hikes pressured precious metals, affecting India’s jewellery input-price environment.
Why this matters
Lower gold and silver prices modestly ease jewellery inventory replenishment costs, though retailers should watch whether the move stimulates near-term consumer buying.
What to watch
- Whether gold stays below Rs 1.53 lakh per 10g for several trading sessions rather than rebounding quickly.
- Rupee movement versus the US dollar, which can offset or amplify international bullion-price declines for Indian retailers.
- Festival and wedding-season booking trends, including advance purchases, exchange transactions and store footfall.
- Changes in making charges, gold-loan demand and consumer financing uptake as indicators of affordability stress.
- Further movement in silver prices, which could improve demand for silver jewellery and gift categories but affect existing inventory values.