MCX Gold advances over ₹1.22 lakh/10 grams; Silver futures also rise on November 19

Similarly, safe-haven contracts for the February 2026 expiry stood at ₹1,24,454 per 10 grams, up by ₹202 or 0.16% on the MCX, at around 10:44 am.

On the MCX, silver futures for the December expiry rose ₹923 or 0.60% to ₹1,55,567 per kilogram. White metal contracts for March 2026 delivery were at ₹1,58,530 per kilogram, marking a ₹1,063 or 0.49% jump.

In the international market, Comex gold increased 0.61% to $4,091.29 per ounce. Meanwhile, Comex silver stood at 50.94$ per troy ounce, up by 0.83%.

On Monday, Federal Reserve Governor Christopher Waller spoke in support of a 25-basis-point cut in December, citing increasing concerns about a weakening labor market and slowing economic growth in the second half of 2025.

However, the Fed’s 19-member interest rate-setting committee, known as the Federal Open Market Committee, appears to be in a split, as seen in several speeches over the past week. While one camp is more concerned about the rising inflation, the other appears more worried about the job market.

For now, investors will be waiting for the Fed's latest meeting minutes on Wednesday, along with Thursday's September jobs report, for insights into the health of the US economy, which will provide additional rate guidance.

Meanwhile, on the domestic front, the country's gold imports surged nearly threefold to reach a record high of $14.72 billion in October, primarily due to increased demand for festivals and weddings, according to data from the Commerce Ministry.

Gold imports stood at $4.92 billion in October 2024. Cumulatively, imports during April-October this fiscal year rose 21.44% to $41.23 billion from $34 billion a year ago.

High gold imports have pushed the country's trade deficit (difference between imports and exports) to a record high of $41.68 billion in October.