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MCX
Trends
- 1
Gold and silver prices have dropped noticeably in India, with bullion markets such as Ujjain's sarafa bazaar reporting lower rates ahead of the festive season. On the Multi Commodity Exchange, analysts at Axis Securities are advising clients to sell gold contracts below 145,600 rupees, targeting 144,000 and 143,000. Traders and buyers are watching whether the dip continues or brings festival-season buyers back into the market.
- 2
Interest in 22 carat gold rates is rising in India as traders weigh the impact of the latest US Federal Reserve decision on bullion prices. Market commentary is asking whether investors should buy gold and silver on dips or prepare for further volatility, with movements on MCX feeding directly into domestic 22K jewellery rates.
- 3
Gold and silver prices on the MCX have corrected sharply ahead of Diwali, prompting jewellers across India to report a pick-up in buying interest. Reports say the drop in rates has revived demand for ornaments during the festive season, with customers who had postponed purchases returning to showrooms as prices become more affordable.