Overview
- MCX futures reopened with sharp selling pressure that pushed both gold and silver lower in early trading, extending last week’s weakness.
- Gold October futures opened around Rs 1.52 lakh per 10 grams and are down more than Rs 4,000 over the past six trading sessions compared with the late‑August settlement.
- Silver futures dropped to about Rs 2,36,423 per kilogram, a fall of roughly Rs 1,235 from the prior close and about Rs 1.83 lakh below the late‑January lifetime high.
- Traders and buyers are watching global bullion moves and the rupee for direction because those factors directly affect domestic prices, jewellery demand, and gold‑loan valuations.
- The pullback eases pressure for buyers after earlier rallies but could tighten margins for sellers and lenders while leaving near‑term demand and price direction uncertain.