The prices of gold and silver rose in India today amid a softer US dollar and healthy spot demand, even as bullion fell below $4,000 an ounce in the global market.
As of 10:00 am on Monday (3 November 2025), MCX Gold price rose 0.31% to 1,21,603.00 per 10 gm even as MCX Silver silver rose 0.42% to ₹1,48,906.00 per kg, according to data on the website of the Multi Commodity Exchange of India. That compares with a 1% decline in bullion globally after China ended a long-standing tax rebate for some retailers, a change that could weigh on demand in one of the world’s largest precious-metals markets.
The precious metal surged to a record high in October, aided by a retail buying frenzy, before dropping sharply in the final two weeks of the month. Prices are still up by more than 50% year-to-date even after the pullback.
Gold, silver prices in India
Both gold and silver are witnessing some short covering after the recent correction, as the expectations of further US Fed rate cuts have weakened after Chair Jerome Powell’s hawkish remarks last week.
The dollar’s weakness is supporting the yellow metal, which has seen significant profit-booking of late.
Manoj Kumar Jain of Prithvifinmart Commodity Research said that gold prices have support at $3,980 and $3,945, while resistance is at $4,054 and $4,084 per troy ounce. Silver has support at $48.00 and $47.40, while resistance is at $48.84 and $49.50 per troy ounce in today’s session, Jain said.
Jigar Trivedi, senior research analyst at Reliance Securities, believes the MCX gold price for the December expiry may be range-bound from ₹1,21,000 to ₹1,21,800 per 10 gm.