Silver Price Today: Check Rates in India
Record-Breaking MCX Gold and Silver Prices as Dollar Weakens – Should You Buy Bullion?
Gold Price Today: MCX Gold and Silver Hit Record Highs Amid Weak Dollar and Rate Cut Hopes
Gold and silver prices soared to fresh record highs on the MCX during Monday’s (September 29) trading session, driven by a weaker dollar and growing expectations of US interest rate cuts. MCX Gold December futures touched a record ₹1,15,590 per 10 grams, while MCX Silver December futures surged to ₹1,43,968 per kg.
By 9:45 AM, gold was trading 0.47% higher at ₹1,15,436 per 10 grams, and silver was 1.09% up at ₹1,43,433 per kg. The dollar index fell over 0.20%, making gold cheaper in overseas currencies and boosting demand.
Global Trends Boost Prices
International gold prices also reached all-time highs as a weaker dollar combined with growing expectations that the US Federal Reserve could further cut interest rates this year. Reuters reports that the CME FedWatch Tool currently prices a 90% chance of a Fed rate cut in October and a 65% probability of another cut in December.
“Gold prices climbed to a record high due to expectations of further US rate cuts and a weaker dollar. On the trade front, President Donald Trump recently announced new tariffs on imported drugs, trucks, and furniture, adding further uncertainty to the economic outlook,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
Meanwhile, US core PCE inflation data came in line with expectations. The Personal Consumption Expenditures (PCE) Price Index rose 0.3% in August, up from 0.2% in July, with year-on-year PCE inflation at 2.7%, up from 2.6%.
Is Now the Right Time to Buy Gold?
Experts predict near-term volatility in gold prices, but dips are seen as buying opportunities due to a positive medium- to long-term outlook for the yellow metal.
“We expect gold and silver to remain volatile this week amid dollar fluctuations, global market movements, and upcoming US non-farm payroll data,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
Trading Advice (MCX):
Gold: Buy around ₹1,14,400, stop loss ₹1,13,850, target ₹1,15,350–₹1,16,000
Silver: Buy around ₹1,40,400, stop loss ₹1,38,800, target ₹1,43,300–₹1,45,000
Support & Resistance Levels:
Gold (USD): Support $3,784–3,755 | Resistance $3,824–3,850
Silver (USD): Support $46.10–45.55 | Resistance $47.00–47.70
Gold (INR): Support ₹1,14,200–1,13,650 | Resistance ₹1,15,400–1,16,000
Silver (INR): Support ₹1,40,400–1,39,100 | Resistance ₹1,43,300–1,45,000
Rahul Kalantri, VP of Commodities at Mehta Equities, added:
Gold: Support $3,730–3,710 | Resistance $3,785–3,820
Silver: Support $45.70–45.50 | Resistance $46.45–46.80
Gold (INR): Support ₹1,13,400–1,13,080 | Resistance ₹1,14,350–1,14,700
Silver (INR): Support ₹1,41,450–1,41,050 | Resistance ₹1,42,950–1,43,800
This version is clean, concise, and structured for readers while keeping all market stats, expert opinions, and trading advice intact.
Silver Price Today
Silver Prices Surge on MCX
Silver prices saw a significant upswing on Monday. MCX Silver December futures for delivery on December 5 were trading at ₹1,43,408 per kg, up ₹1,519 or 1.07%.
During early trading, silver fluctuated between a low of ₹1,41,758 and a high of ₹1,44,179 per kg. In the previous session, silver had closed at ₹1,41,889, while today it opened at ₹1,41,758.
The sharp rise in silver prices reflects strong market demand and ongoing trends in the bullion market, influenced by global cues and domestic trading activity.
