MCX Gold slips below ₹1.26 lakh/10 grams as investors await US Fed policy easing; Silver futures rise

Gold prices eased in futures trade on Thursday, November 27, in line with weak global trends and poor offtake in spot markets.

On the Multi-Commodity Exchange (MCX), gold futures for December delivery decreased by ₹217, or 0.17%, to ₹1,25,714 per 10 grams.

Similarly, yellow metal futures for the February 2026 expiry stood at ₹1,27,700 per 10 grams, marking a ₹71 or 0.06% jump.

In contrast, silver futures rebounded after a weak opening. The white metal for December delivery jumped by ₹1,527, or 0.95%, to ₹1,62,799 per kilogram.

On the global front, Comex gold futures for December delivery fell by $11.4, or 0.27%, to $4,153.8 per ounce, snapping a four-day winning streak.

"Gold prices dipped to around $4,150 per ounce on Thursday but remained near a two-week high, as investors continued to anticipate a Federal Reserve rate cut next month," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.

Trivedi added that the US initial jobless claims came in surprisingly low and durable goods orders were stronger than expected, but this did not deter expectations for rate cuts.

Silver extended its positive run in the global markets as well, with the December contract futures trading 1.25% higher at $53.57 per ounce, marking the gains for the fourth straight day.

"Traders continue to give priority to the wider run of weak demand indicators and dovish Fed commentary because the economic data mix was uneven but still consistent with policy easing," Renisha Chainani, Head - Research at Augmont, said.

She noted that gold and silver rose to over two-week highs, as the dollar declined and the opportunity cost of storing bullion decreased due to predictions of a looser US monetary policy.

"Three more cuts are expected before the end of 2026, and markets currently price in an 85% probability of a 25 basis points cut in December, a significant increase from around 30% a week ago," Chainani said.