Precious metals came under heavy selling pressure in the week’s first trading session, with MCX gold and silver falling sharply on Monday as rising oil prices fuelled inflation concerns and strengthened expectations of further interest rate hikes by the US Federal Reserve.
On the MCX, October 2026 gold futures declined Rs 3,656, or 2.42%, to Rs 1,47,225 per 10 grams while December 2026 silver futures fell Rs 7,563, or 3.22%, to Rs 2,27,133 per kg at the latest check.
