MCX Gold and Silver Contracts Surge Over 1% Before Key Fed Announcement

On 16 September 2026, trading on the Multi‑Commodity Exchange (MCX) showed gold and silver contracts advancing by more than one percent as market participants brace for the Federal Reserve’s policy announcement.

The gold contract for 5 October 2026 opened at a fresh high of ₹152,100 per 10 grams, up 0.85% from the previous close of ₹150,809. By 12 p.m. local time the price was ₹151,762, a 0.63% rise, with the day’s range locked between ₹151,450 and ₹152,100.

Silver’s 4 December 2026 contract started at ₹235,785 per kilogram, a 1.57% increase over the prior ₹232,118 settlement. The metal later traded at ₹235,988, posting a 1.40% gain, while the intraday low and high were ₹234,540 and ₹235,988 respectively.

On the global front, COMEX reported gold at $4,366 per ounce (+0.77%) and silver at $65 per ounce (+1.96%).

The domestic rally is occurring ahead of the U.S. Fed’s two‑day meeting, whose decision is expected later this evening. At the same time, oil prices have climbed to near‑four‑month highs amid Middle‑East tensions, and U.S. Treasury yields have moved above the 5% mark, adding pressure on investors.