Gold and silver futures rally, analysts see further upside
Gold futures broke through ₹1,55,000 to hit ₹1,62,680, while silver rebounded from ₹2,30,000. Analysts expect the rally to continue with targets of ₹1,70,000 and ₹2,60,000.
Gold Market
Gold futures broke through ₹1,55,000 to hit ₹1,62,680, while silver rebounded from ₹2,30,000. Analysts expect the rally to continue with targets of ₹1,70,000 and ₹2,60,000.
Shares of gold loan lenders Muthoot Finance, Manappuram Finance, and IIFL Finance rose up to 7% in two sessions after gold prices crossed Rs 1.6 lakh per 10 grams on the MCX.
Gold futures on the MCX climbed ₹1,432 to ₹1.60 lakh per 10 grams, driven by fresh speculative positions and firm physical demand. The October contract traded at ₹1,60,857.
MCX shares jumped over 4% as gold, silver and copper futures rose after a US Treasury liquidity support announcement. The stock has returned around 900% in three years.
Gold fell on the MCX but rose internationally as Treasury yields eased. Rising oil prices and inflation concerns limit rate cut expectations. Experts view the correction as a buying opportunity.
MCX gold and silver prices declined in early trade on Tuesday as a surge in crude oil prices rekindled fears that the Federal Reserve and other central banks may raise interest rates.
Gold prices slipped on the Multi Commodity Exchange (MCX) on Tuesday even as international benchmarks extended gains. The divergence came as traders toned down expectations of an aggressive US Federal Reserve rate hike.
Gold and silver prices were largely stable in India on August 16, 2026, with spot gold near ₹1,45,165 per 10 gram and silver around ₹2,23,800 per kg. MCX futures edged higher.