Gold falls Rs 3,214 on MCX as oil rally fuels rate-hike bets
Gold futures on MCX fell Rs 3,214 per 10 grams and silver dropped Rs 6,661/kg as rising oil prices revived inflation concerns and expectations of further US rate hikes.
Gold Market
Gold futures on MCX fell Rs 3,214 per 10 grams and silver dropped Rs 6,661/kg as rising oil prices revived inflation concerns and expectations of further US rate hikes.
Gold and silver snapped a two-day rally on the MCX, with gold down Rs 1,331 per 10 grams and silver down Rs 1,600 per kg amid US-Iran tensions and central bank rate hikes.
Gold fell Rs 800 per 10 grams on the MCX while silver gained Rs 1,000 per kg, supported by a subdued dollar and weaker crude oil prices amid global interest rate uncertainty.
Gold and silver declined on September 14, 2026, as oil prices jumped 4% on Middle East supply concerns and investors weighed the prospect of a US Federal Reserve rate hike.
Gold is currently trading around ₹1.5 lakh per 10 grams. An analyst expects it to move towards ₹2 lakh–₹2.1 lakh over the next 12 months, driven by rupee weakness, customs duties and global trends.
Gold gained nearly Rs 6,500 per 10 grams and silver surged Rs 13,000 per kg over three consecutive sessions on the MCX, supported by a weaker US dollar and lower Treasury yield expectations.