Gold and Silver Prices Edge Higher on Friday as Buyers Return Amid Rate Fears

Gold and silver markets showed modest gains on Friday even as concerns over U.S. interest-rate hikes kept overall sentiment bearish. On the MCX, the benchmark October gold contract opened at ₹1,51,010 per 10 gram, slightly above the prior close of ₹1,50,710, and later traded around ₹1,51,135. The December silver contract opened at ₹2,33,736 per kilogram, edging up from ₹2,33,482 and later reaching about ₹2,33,883.

In the United States, Comex gold opened near $4,309.50 per ounce and rose to roughly $4,318.10, while silver opened at $64.26 and moved to $64.36 per ounce. Market participants cited the Federal Reserve’s recent policy-rate increase to 3.75-4.00 % and a firm dollar as factors weighing on non-interest-bearing assets, yet buying at lower price points provided support. Technical analysts noted key support and resistance levels for both metals, suggesting further movement depends on whether prices hold above those thresholds.