MCX Gold Drops Rs 814 to Rs 1,42,259 as Silver Slumps Rs 3,743 on Muted Demand
Precious metals witnessed significant selling pressure in domestic futures trade on Tuesday, October 27, 2026, as gold prices retreated and silver tumbled sharply on the Multi Commodity Exchange (MCX). The downturn came on the back of subdued buying interest in physical spot markets alongside declining price trends across international trading hubs.
Key Price Movements on MCX
- Gold Contracts: Gold futures for December delivery slid by Rs 814, or 0.57 per cent, to settle at Rs 1,42,259 per 10 grams. The December contract saw a business turnover of 1,449 lots during the session.
- Silver Contracts: Silver witnessed an even steeper fall, with December contracts losing Rs 3,743, or 1.91 per cent, to trade at Rs 1,92,050 per kilogram. Trading volume in the December silver contract stood at 3,482 lots.
Market analysts attributed the downward trajectory in domestic gold prices to soft physical demand in local mandis, which prompted speculators and institutional traders to liquidate open interest. Silver faced intensified long-unwinding as participants cut down their speculative exposure.
Global Market Triggers
Domestic trading closely mirrored weakness in overseas benchmarks:
- Global Gold: In New York, international gold futures dropped by 0.45 per cent to USD 3,998.69 per ounce.
- Global Silver: International silver futures fell more aggressively, declining by 2.14 per cent to USD 52.81 per ounce.
Implications for Indian Market Participants
For Indian bullion buyers and retail jewellers, the slide provides temporary relief from elevated retail prices. While the price drop may stimulate retail off-take in physical markets if rates stabilize, commodity analysts advise short-term traders to track global macroeconomic cues and currency movements, as fluctuations in the Indian rupee will continue to guide landed import parity prices for both yellow and white metals.
