Gold and Silver Prices: MCX Trends Ahead of US Fed Policy Meet
Precious metal markets are witnessing cautious movement as investors weigh geopolitical shifts in the Middle East against upcoming decisions from the U.S. Federal Reserve. While international spot prices show resilience, domestic MCX futures are seeing marginal declines in both gold and silver.
MCX Market Update: Gold and Silver Movements
On the Multi Commodity Exchange (MCX), silver experienced its second consecutive session of declines. Silver futures for July 2026 delivery dropped by Rs 864 (0.3%), settling at Rs 2,49,241 per kg. Gold futures for August 2026 delivery also saw a slight dip, trading at Rs 1,52,472 per 10 grams.
This domestic cooling comes despite a bullish trend in international markets. Globally, spot gold rose 0.3% to $4,341.12 per ounce, trading near its one-week high. Similarly, spot silver advanced 0.3% to $70.38 per ounce, supported by a broader rally in precious metals including platinum and palladium.
Geopolitical Drivers and the U.S. Fed Factor
The primary driver behind current market volatility is the potential interim U.S.-Iran peace agreement. The deal, aimed at de-escalating Middle East tensions, has significant implications for commodity pricing. U.S. officials have indicated that an agreement could allow Iran to resume oil sales, a move that could increase global crude supply and ease inflation concerns.
Furthermore, the market is closely monitoring the Federal Reserve's upcoming policy meeting. Optimism regarding the peace deal has already begun to temper expectations for further U.S. interest rate hikes, which typically has a positive impact on non-yielding assets like gold.
Key Technical Levels and Trading Strategy
For traders looking to navigate these fluctuations, technical analysts have identified critical support and resistance levels. According to Manoj Kumar Jain of Prithvi Finmart, gold is currently finding support in the $4,315–$4,270 per troy ounce range, with resistance ahead at $4,385–$4,420.
On the domestic MCX, the key levels are as follows:
- Gold: Support is established at the Rs 1,51,800–Rs 1,51,150 range, while resistance sits between Rs 1,54,000 and Rs 1,54,700.
- Silver: Support levels are seen at Rs 2,48,000–Rs 2,44,400, with resistance projected at Rs 2,53,000–Rs 2,56,300.
市场专家建议，在当前高波动时期，持有多头头寸的投资者应严格执行止损订单，以管理风险。
核心要点
- 市场情绪分化： 虽然国际现货黄金正处于周内高点，但国内 MCX 白银已连续第二日下跌。
- 地缘政治影响： 美国与伊朗之间潜在的和平协议可能会增加原油供应并影响通胀预期，从而影响石油和贵金属价格。
- 关注美联储： 即将举行的美联储政策会议仍是决定金价下一阶段主要走势的最关键催化剂。