Gold and silver prices moved in different directions in the Indian futures market on Thursday, October 29, 2026. Gold recorded a modest gain during morning trading, while silver continued to face selling pressure. Investors were assessing the US Federal Reserve’s latest interest-rate decision and its potential impact on precious metals.
Gold Futures Trade Near ₹1.44 Lakh
On the Multi Commodity Exchange (MCX), December gold futures were trading at ₹1,43,860 per 10 grams at around 10:41 am, up ₹155 from the previous close of ₹1,43,705.
The modest rise came after the US Federal Reserve kept its benchmark interest rate unchanged in the range of 3.75% to 4%. However, uncertainty about the future direction of US monetary policy continued to influence market sentiment.
Silver Prices Remain Under Pressure
Silver futures moved lower during the same trading session. At around 10:46 am, MCX December silver futures stood at ₹1,93,679 per kilogram, down ₹646 from the previous close of ₹1,94,325.
Unlike gold, silver continued to struggle despite the Federal Reserve’s decision to maintain interest rates. Its price movements are influenced by both investment demand and expectations surrounding industrial consumption.
Why Are Gold and Silver Moving Differently?
Interest-rate expectations, movements in the US dollar and bond yields can influence the appeal of precious metals. Gold does not generate interest income, so changes in the expected returns on interest-bearing assets can affect investor demand.
Silver also has substantial industrial uses, making it sensitive to expectations about economic activity and manufacturing demand. These differences can cause the two metals to move in opposite directions during the same trading session.
What Should Buyers Know?
The latest futures prices reflect market trading at specific times and may change throughout the day. Retail jewellery prices can also differ by city, purity, taxes and applicable making charges.
Buyers should check current local rates before making a purchase. The movement in a single session does not establish whether gold or silver will rise or fall over the longer term.
