Gold, Silver Prices Today: Gold Rises 1.4%, Silver Jumps 2.5% As Safe-Haven Demand Strengthens

Gold and silver prices extended their gains on Wednesday, rising by up to 3 per cent as a weaker US dollar, lower Treasury yields and geopolitical uncertainty supported demand for precious metals.

In the domestic market, 24-karat gold climbed 1.4 per cent to ₹1,41,980 per 10 grams, while 999 fine silver gained ₹4,520, or 2.5 per cent, to ₹1,85,000 per kg as of 11:10 AM.

On the Multi Commodity Exchange (MCX), December gold futures advanced 1.76 per cent to ₹1,41,911 per 10 grams. December silver futures jumped 3.09 per cent to ₹1,85,249 per kg.

The recovery followed a sharp decline in the previous session.

Softer crude oil prices eased inflation concerns and raised expectations that central banks could gain greater flexibility in adjusting monetary policy.

Lower bond yields and a weaker dollar generally support gold, which does not offer interest.

Investors are tracking US political developments, labour market data and signals from the Federal Reserve.

According to CME’s FedWatch tool, traders currently see a 78 per cent probability of a rate hike in December.

COMEX gold rose 0.58 per cent to $3,963.20 per ounce, while silver gained 0.48 per cent to $49.99.

Geopolitical tensions boosted safe-haven demand, as Russia agreed to Ukraine-US peace talks in Abu Dhabi on November 10-11. Uncertainty over Iran-US negotiations kept investors cautious.

COMEX gold faces resistance at $3,970-$4,000, with support near $3,900. MCX resistance stands at ₹1,41,000 and ₹1,43,000-₹1,43,700, while ₹1,40,000 remains a key support.

High prices hit Indian demand, which fell 29 per cent year-on-year to 162.5 tonnes in July-September 2026, according to the World Gold Council.

Record prices, higher import duty and changing buying patterns weakened jewellery and investment demand.

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