MCX gold slips to ₹1.3 lakh/10 grams; Silver futures also decline from record highs on profit booking, weak global cues

On the MCX, yellow metal contracts for the April expiry fell by ₹578 or 0.46% to ₹1,32,315 per 10 grams, at around 10:48 am.

Similarly, silver contracts for the March expiry slipped ₹325 or 0.18% to ₹1,82,027 per kilogram. White metal futures for May delivery stood at ₹1,84,529 per kilogram, marking a ₹263 or 0.14% fall, on the MCX.

In the international market, Comes Gold (February 2026) slumped 0.16% to $4,225.80 per ounce. Comex Silver (January expiry) jumped 0.21% to $58.745 per troy ounce.

On Wednesday, silver had surged to a lifetime high both globally and domestically.

The highly anticipated talk between Russia and the US failed to achieve a breakthrough on a Ukraine peace deal.

Meanwhile, the rupee slumped 28 paise to an all-time low of 90.43 against the US dollar in early trade on Thursday, amid substantial foreign institutional investor outflows and restrained intervention from the Reserve Bank of India. At the same time, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14% higher at 98.99.

Furthermore, the cautious tone of the US economic data had investors betting on an 89% probability that the Federal Reserve will opt for a quarter-point rate cut at its December 10 meeting, according to the CME Group's FedWatch.

Additionally, the anticipated Chair of the Federal Reserve, White House National Economic Council Director Kevin Hassett, has echoed similar sentiments to those of US President Donald Trump, preferring lower interest rates.

Investors also remain cautious as the RBI’s three-day MPC meeting comes to an end tomorrow, with RBI governor Sanjay Malhotra announcing the result of the discussion at 10 am on Friday.