Gold, Silver Rate Today Live Updates: Gold steadies near one-week low as oil-driven inflation fears grow - The Times of India

AI desk brief

Gold and silver are under pressure on a stronger rupee, firmer rate expectations and a modestly hawkish macro backdrop: MCX December gold closed at Rs 1.47 lakh/10g, down 2.4% on the week, while MCX silver fell 6.4% to Rs 2.11 lakh/kg. In global trade, Comex December gold settled at $4,181.10/oz after a $35.20 weekly drop, and spot gold was last at $4,118.64/oz ahead of US PCE inflation data and the Fed’s Oct. 27-28 meeting.

The article flags energy-driven inflation risks from the Strait of Hormuz and Brent hovering near $110/bbl as a potential support, but higher rates and currency strength are currently dominating domestic price action. Silver looks more vulnerable than gold to the growth/rates mix, with weekly selling and position reduction on MCX despite some short-covering support in Comex silver.