MCX gold slips past ₹1.30 lakh/10 grams; Silver futures gain as investors await Fed policy outcome

On the MCX, yellow metal contracts for the April expiry declined by ₹177 or 0.13% to ₹1,32,000 per 10 grams, at around 10:18 am.

Last week, the precious metal appreciated by ₹958, or 0.74%.

However, silver futures for March delivery surged by ₹682 or 0.38% to ₹1,82,424 per kilogram. White metal futures for May delivery stood at ₹1,84,685 per kilogram, reflecting a ₹435 or 0.24% jump, on the MCX.

However, silver futures depreciated by ₹808, or 0.44%, to ₹1,82,600 per kilogram in 14,281 lots.

In the international market, Comes Gold (February 2026) fell 0.03% to $4,216.60 per ounce, while Comex Silver (January expiry) advanced 0.58% to $58.29 per troy ounce.

Yellow metal prices declined on the back of the upcoming US Federal Reserve final policy meeting result on Wednesday, December 10.

According to the CME Group’s FedWatch, investors are betting on an 89.4% probability that the Federal Reserve will opt for a quarter point rate cut during the Fed’s final meeting of 2025.

Last week, the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditure (PCE) index, showed a 2.8% year-on-year (YoY) rise in September. On a monthly basis, core inflation increased by 0.2%, equivalent to the growth in August.

Meanwhile, the rupee depreciated 10 paise to 90.15 against the US dollar in early trade on Tuesday, as dollar demand from corporates, importers and foreign portfolio investors dented investors' sentiments.

Additionally, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04% lower at 99.04.