Gold price today slipped in domestic futures trade as traders adopted a cautious stance ahead of crucial U.S. economic data. On Thursday, the yellow metal eased by ₹125 to settle at ₹1,12,430 per 10 grams in the futures market, reflecting a flat global trend and uncertainty over the U.S. Federal Reserve’s next policy moves.
On the Multi Commodity Exchange (MCX), gold futures for October delivery declined by 0.11% or ₹125 to ₹1,12,430 per 10 grams, with a business turnover of 6,314 lots. Similarly, the December contract also shed 0.13% or ₹147 to reach ₹1,13,500 per 10 grams in 11,823 lots.
While gold remained subdued, silver futures showed modest gains. The December silver contract rose ₹124 or 0.09% to ₹1,34,126 per kilogram in 17,121 lots. The March 2026 silver contract also climbed ₹147 or 0.11% to ₹1,35,563 per kilogram, signaling mild investor interest in the white metal.
Global Market Trends
In the international market, bullion prices traded flat as investors weighed the prospects of U.S. monetary policy easing. Gold futures hovered around $3,768.50 per ounce, while silver traded at $44.19 per ounce.
Analysts explained that gold was supported near the $3,750 level, with expectations of at least two rate cuts by the U.S. central bank this year. This limited the dollar’s recent rally, which had touched a two-week high, and prevented a steeper decline in gold.
Analysts’ Views
Jigar Trivedi, Senior Research Analyst at Reliance Securities, pointed out that recent U.S. macroeconomic data complicated the outlook for gold. “New home sales in August surged unexpectedly to their fastest pace since early 2022, reducing fears of a slowdown in the U.S. economy. This development has clouded expectations of additional Federal Reserve easing,” he said.
Trivedi further added that gold’s safe-haven appeal continues to find support from geopolitical tensions, particularly the ongoing Russia-Ukraine war and unrest in the Middle East.
Meanwhile, Federal Reserve Chair Jerome Powell maintained a cautious stance, highlighting the challenge of managing inflation while dealing with a cooling labour market. Some policymakers are pushing for two more rate cuts this year, while others prefer a slower or more aggressive path. This divide in policy direction is keeping gold prices capped.
Factors Influencing Gold Price Today
According to market experts, investors are now closely monitoring a series of U.S. macroeconomic data releases that are likely to influence gold prices in the coming days. These include:
- Final second-quarter GDP figures
- Weekly jobless claims
- Durable goods orders
The most critical event, however, remains Friday’s release of the Personal Consumption Expenditure (PCE) Price Index, which is the Fed’s preferred gauge of inflation. Additionally, upcoming speeches by members of the Federal Open Market Committee (FOMC) are expected to provide fresh signals about the direction of U.S. monetary policy.
Key Market Highlights
| Commodity | Contract | Price Movement | Final Price | Lots Traded |
|---|---|---|---|---|
| Gold | October | -₹125 (-0.11%) | ₹1,12,430/10g | 6,314 |
| Gold | December | -₹147 (-0.13%) | ₹1,13,500/10g | 11,823 |
| Silver | December | +₹124 (+0.09%) | ₹1,34,126/kg | 17,121 |
| Silver | March 2026 | +₹147 (+0.11%) | ₹1,35,563/kg | N/A |
| Global Gold | – | Flat | $3,768.50/oz | – |
| Global Silver | – | Flat | $44.19/oz | – |
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Outlook for Investors
Market experts believe that gold is likely to remain range-bound in the short term as traders weigh U.S. inflation data and Fed commentary. If the PCE Price Index signals cooling inflation, it may strengthen the case for more aggressive rate cuts, which could support gold prices. On the other hand, stronger-than-expected economic data might limit gains for the yellow metal.
Investors are also advised to keep a close watch on global geopolitical developments, as rising tensions typically boost gold’s appeal as a safe-haven asset.
In conclusion, gold price today reflects a cautious market mood, with traders awaiting fresh economic cues from the U.S. The outcome of upcoming inflation data and monetary policy guidance will play a key role in determining the next trend for both gold and silver.
