Gold prices dip to Rs 1.53 lakh, silver falls Rs 1,500/kg ahead of US inflation data. What should you do? - The Economic Times

AI desk brief

Gold and silver are consolidating ahead of key U.S. inflation prints, with MCX October gold down Rs 182 to Rs 1,53,581/10g and September silver down Rs 1,500 to Rs 2,42,276/kg. Spot gold was still up 0.3% at $4,412.84/oz, while spot silver rose 0.2% to $67.42/oz; platinum eased 0.6% and palladium gained 0.2%.

The near-term setup is being pulled by two opposing forces: a weak dollar and rising geopolitical stress are supportive, while the market is focused on U.S. PPI/CPI and a 60% CME FedWatch probability of a rate increase this month, which would weigh on non-yielding assets. One local analyst sees gold support at $4,420-$4,385 and resistance at $4,484-$4,510, with MCX support at Rs 1,52,500-Rs 1,51,650; he advises booking profits into the data and buying dips only if support holds.