Gold, silver prices today, October 16: Precious metals extend recovery; check 22K, 24K, 18K rates before buying jewellery this festive weekend - Upstox

AI desk brief

Gold and silver extended their recovery on October 16, with MCX gold futures back above ₹1.48 lakh per 10 grams and silver above ₹2.13 lakh/kg as value buying, a softer dollar and lower US Treasury yields supported bullion. MCX December gold rose ₹2,041, or 1.4%, on Oct. 15 to ₹1,47,889/10g after a nearly 4% pullback over the prior three sessions from ₹1,51,499/10g on Oct. 9.

Spot reference rates in India also firmed: Bullions.co.in quoted 24K gold at ₹1,48,600/10g and 999 silver at ₹2,13,480/kg at 9:55 am IST, while Tanishq listed 22K gold at ₹13,555/g. The piece says the rebound is still tied to uncertainty over the Fed rate path and currency moves, so near-term direction remains sensitive to US yields and the dollar.