Gold Surges To ₹1.48 Lakh While Silver Tops ₹2.12 Lakh, Easing US Fed Rate Hike Fears Boost Precious Metals

New Delhi: Gold and silver prices moved higher in early trading on Monday, October 19, supported by positive global market trends and easing concerns over another interest rate hike by the US Federal Reserve.

Both precious metals recorded gains on the Multi Commodity Exchange (MCX), with investors closely watching US inflation data and upcoming Federal Reserve policy decisions.

Gold Price Today: MCX Gold Rises ₹461

On the MCX, December gold futures climbed ₹461, or 0.31 per cent, to ₹1,48,379 per 10 grams, compared with the previous closing price of ₹1,47,918.

Gold touched an intraday high of ₹1,48,499, gaining ₹581, while its lowest level during early trading stood at ₹1,48,120.

Silver Price Today: MCX Silver Crosses ₹2.12 Lakh

Silver futures for December delivery increased ₹826, or 0.39 per cent, to ₹2,12,013 per kilogram from the previous close of ₹2,11,187.

The white metal reached an intraday high of ₹2,12,750, while its session low stood at ₹2,11,634.

US Federal Reserve Decision In Focus

Commodity experts said comments from Federal Reserve Chair Kevin Warsh reduced expectations of an October interest rate increase to below 20 per cent.

However, stronger US inflation figures continue to create uncertainty over a possible December rate hike.

Investors will closely monitor the Federal Open Market Committee (FOMC) meeting scheduled for October 27–28.

International Gold And Silver Prices Rise

In international markets, COMEX gold advanced towards $4,200 per ounce, gaining around 0.50 per cent.

COMEX silver also strengthened, moving towards $57.80 per ounce, up approximately 0.89 per cent.

A stronger Indian rupee, however, limited some domestic price gains.

Gold And Silver Price Outlook

Market analysts identified immediate resistance for MCX gold at ₹1,48,600, followed by ₹1,50,000–₹1,50,700. Support is expected near ₹1,48,000.

For silver, resistance lies between ₹2,14,000 and ₹2,15,000, while immediate support is placed around ₹2,07,000–₹2,08,000.

The upcoming US Fed decision and inflation trends are expected to influence precious metal prices.