MCX Gold Climbs to Rs 1.47 Lakh, Eyes Key Resistance Level

Gold futures on the Multi Commodity Exchange (MCX) surged to Rs 1,47,649 per 10 grams, marking a 1.02% jump in the October contract as investor sentiment shifted toward safe-haven assets. The rally in precious metals was accompanied by renewed interest in silver, with December futures climbing 0.94% to Rs 2,25,804 per kilogram.

Traders are now watching whether gold can sustain its momentum or face profit-taking at the Rs 1.5 lakh level, which has emerged as a key resistance point. The recent yield spike in global debt markets has weighed on sentiment, prompting portfolio rebalancing toward commodity hedges and strengthening the case for bullion positions.

Analysts attribute the strength in both metals to a combination of factors, including softer economic growth expectations and central bank policy uncertainty. Market participants are expected to remain focused on upcoming inflation data and monetary policy signals that could influence precious metals' direction in the near term.

The gains in MCX contracts reflect broader global trends, where geopolitical tensions and macroeconomic headwinds have continued to support demand for gold as a wealth preservation tool. Silver, which often tracks gold movements but carries additional industrial demand, has followed suit with resilient pricing despite economic slowdown concerns.