Negative impactCommodity
MCX gold prices at Rs 1.39 lakh/10 gram; silver tanks Rs 2,000/kg as US jobs data fuels rate hike bets. Key levels to track ahead of Dhanteras
Economic Times 1 hr ago·4 Nov 2026, 4:12 am
Gold prices on the Multi Commodity Exchange (MCX) have slipped to around Rs 1.39 lakh per 10 grams, while silver futures have dropped sharply by Rs 2,000 per kg. This correction comes as the US labor market showed strength, raising expectations that the Federal Reserve will maintain higher interest rates for longer. Higher rates typically increase the opportunity cost of holding non-yielding assets like gold, leading to a pullback in prices.
For investors, this move is significant as it coincides with the upcoming festive season, particularly Dhanteras, a peak time for buying precious metals. The current dip offers a potential entry point for buyers looking to secure assets at lower levels before the seasonal demand picks up. Traders should monitor the US dollar index and global inflation data to gauge the next leg of movement in precious metal prices.
Affected stocks
Bearish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Multi Commodity Exchange of India (MCX).
- Category: Commodity.
- AI reads the tone as negative (potentially bearish) for the stock.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update for Multi Commodity Exchange of India worth tracking. The tone is negative — watch for downside reaction. Use the price and stock snapshot to gauge how the market is responding.
