MCX gold and silver futures slide, easing near-term jewellery input costs

MCX gold October futures fell 1.19% to ₹1,50,973 per 10 grams, while silver December contracts dropped 1.70% to ₹2,31,000 per kg. The intraday decline, tracking weaker global prices and Fed-rate concerns, could support near-term jewellery pricing and margins if sustained.

— Source publishedMon, 14 Sept, 2026, 17:17 IST·First seen Mon, 14 Sept, 2026, 17:21 IST·Source Mint · Markets

What happened

MCX gold and silver futures fell up to 2% in Monday evening trade, tracking weaker global prices and concerns over a possible US Federal Reserve rate hike. The

Key facts

  • Gold October futures: ₹1,50,973 per 10 grams, down 1.19%
  • Silver December contracts: ₹2,31,000 per kg, down 1.70%
  • Precious metals fell up to 2%
  • Around 5:15 PM, 14 September

Why this matters

Softer precious-metal costs may marginally improve jewellery-sector deal economics and working-capital needs, but the one-day move is unlikely to alter strategic acquisition priorities.

What to watch

  • MCX gold remaining below ₹1,51,000 per 10 grams for multiple sessions
  • MCX silver sustaining below ₹2,31,000 per kg
  • USD/INR movement, which can offset global bullion weakness for Indian buyers
  • US Fed guidance, Treasury yields and global gold spot prices
  • Wedding and festive booking volumes, exchange transactions and store footfall
  • Retail gold-rate reductions announced by major national jewellery chains
  • Accelerate planned gold and silver inventory purchases within hedge limits if spot-to-retail spreads improve.
  • Use selective festive offers, lower exchange-loss thresholds or value-added making-charge promotions rather than broad price discounting.
  • Reassess hedging coverage and unhedged inventory exposure after the sharp intraday move.
  • Promote lightweight gold, silver and studded products if lower metal prices improve affordability and conversion.

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