Gold and Silver Prices Today: MCX Trends Ahead of US Fed Meet

Precious metal markets are showing mixed signals as investors balance geopolitical optimism with upcoming central bank decisions. While gold continues to trade near significant levels, silver has marked its second consecutive session of declines on the Multi Commodity Exchange (MCX).

MCX Market Movement: Silver Dips as Gold Stabilizes

On Wednesday, the MCX saw a marginal decline in precious metal futures. Silver futures for July 2026 delivery fell by Rs 864 (0.3%), trading at Rs 2,49,241 per kg. Gold futures for August 2026 delivery also saw a slight dip, settling at Rs 1,52,472 per 10 grams.

This domestic trend comes despite a rise in international spot gold, which climbed 0.3% to $4,341.12 per ounce. The divergence highlights how domestic traders are weighing local supply-demand dynamics against global macroeconomic shifts, particularly the anticipation surrounding the U.S. Federal Reserve's policy meeting.

Geopolitical Optimism and Oil Price Impact

A significant driver in the current market volatility is the potential U.S.-Iran peace agreement. Reports suggest an interim deal aimed at ending Middle East conflicts could allow Iran to resume oil sales. This development has pushed oil prices toward a three-month low, as the prospect of increased Iranian crude in the global market eases inflation concerns.

While peace agreements often drive investors toward "safe-haven" assets like gold, the reduction in expectations for further U.S. interest rate hikes—driven by easing inflation fears—is providing a counterweight to gold's upward momentum.

Technical Analysis: Key Support and Resistance Levels

For traders looking to navigate the current volatility, market experts have identified critical technical levels. According to Manoj Kumar Jain of Prithvi Finmart, the following levels are essential for monitoring:

Gold (MCX):

Silver (MCX):

Local Market Snapshot: City-wise Gold Rates

Les cours de l'or continuent de varier dans les principales métropoles indiennes. À ce jour, les prix de l'or 24 carats (or pur) mènent la tendance :

Points clés