On October 12, 2026, the precious metals market presented a nuanced picture. While international gold and silver futures showed gains, domestic futures opened lower on the Multi Commodity Exchange (MCX). Market analysts are closely watching key technical levels, crude oil movements, and global geopolitical developments for insights into future price trajectories.
Current Market Snapshot
- MCX Gold: Traded at ₹1,50,889 per 10 grams, marking a 0.40% decline.
- MCX Silver: Stood at ₹2,25,550 per kilogram, down by 0.09%.
In the international market, gold futures saw a 0.27% increase to $4,227 per ounce, and silver futures climbed 0.41% to $61 per ounce.
Kedia Advisory's Outlook and Key Levels
Amit Gupta, Senior Research Head at Kedia Advisory, provided an outlook highlighting crucial price levels for both gold and silver. According to his analysis, domestic gold could target significantly higher levels, potentially reaching ₹1,52,500 per 10 grams.
For silver, Gupta's outlook suggests a potential move towards ₹2,28,000 per kilogram on the MCX. Internationally, he indicated that if gold sustains above $4,190 per ounce, a firm outlook could see it target $4,220. For silver, $60 per ounce is identified as a key support level, with $61.80 being the next upside resistance.
Factors Influencing Gold and Silver Prices
The precious metals market is highly sensitive to a range of global and domestic economic indicators. Investors are advised to consider several factors:
- Crude Oil Movements: Fluctuations in oil prices can impact inflation expectations and, consequently, the demand for safe-haven assets like gold.
- US Dollar Strength: A stronger US dollar typically makes dollar-denominated gold more expensive for holders of other currencies, potentially dampening demand.
- Currency Fluctuations: The movement of the Indian Rupee against the US dollar plays a significant role in domestic gold prices. A stronger rupee can moderate domestic prices even if international prices rise.
- Inflation Expectations: Gold is often seen as a hedge against inflation. Rising inflation expectations can boost gold's appeal.
- Geopolitical Tensions: Global uncertainties and geopolitical conflicts often lead investors to seek the safety of gold, driving prices higher.
Going forward, market participants will closely monitor whether gold and silver maintain their identified support levels and progress towards the targets outlined by Kedia Advisory. The broader direction of global markets and currency dynamics will remain pivotal in shaping domestic price movements for these precious commodities.