CommoditiesMedium•9 November 2026•
1 min read
MCX Gold and Silver Prices Surge as Falling Oil Eases Rate Hike Bets
Key Facts
1MCX gold futures rose by Rs 1,400 to reach Rs 143,933 per 10 grams.
2MCX silver futures increased by Rs 4,000 to reach Rs 188,979 per kg.
3A decline in oil prices reduced expectations of interest rates remaining elevated for longer.
MCX gold futures rose by Rs 1,400 to reach Rs 143,933 per 10 grams. The Economic Times reported that silver futures on the same exchange jumped by Rs 4,000 to reach Rs 188,979 per kg, marking a significant recovery for precious metals as macro sentiment shifted.
A decline in oil prices reduced expectations of interest rates remaining elevated for longer, benefiting non-yielding assets. This shift occurred as energy-driven inflation concerns eased, while the Indian rupee was trading near 93.90 against the dollar on November 9, 2026, which influenced domestic price action.
The market is awaiting the release of India's annual Inflation Rate data on November 12, 2026. The forecast stands at 5.93%, compared to the previous reading of 5.54%.