Gold and Silver Prices Rise Amid Easing Inflation Concerns

On July 27, gold and silver prices saw a notable increase, driven by a weaker US dollar and easing inflation concerns following a decline in crude oil prices. Gold futures opened higher on the Multi Commodity Exchange, with significant gains throughout the trading session. Analysts suggest a cautiously positive outlook for these precious metals, with key resistance and support levels identified for future movements. This article delves into the factors influencing these price changes and what investors can expect moving forward.

By Narendra Chaudhary Jul 27, 2026, 13:21 IST

Market Update on Precious Metals

Representational Image

Mumbai, July 27: On Monday, gold and silver prices experienced an upward trend, with precious metals increasing by as much as 1 percent. This rise was attributed to a weaker US dollar and diminishing inflation worries following a drop in crude oil prices due to the halt in military actions between the US and Iran.

Gold futures for August on the Multi Commodity Exchange (MCX) commenced at Rs 1,43,575 per 10 grams, a rise from the previous closing of Rs 1,43,106.

By around 12:10 pm, gold was priced at Rs 1,44,173 per 10 grams, reflecting an increase of Rs 1,067 or 0.75 percent. The yellow metal reached an intraday peak of Rs 1,44,230, marking a rise of approximately 0.8 percent during the trading session.

Silver futures for September also saw gains, climbing as much as 1.26 percent to hit an intraday high of Rs 2,24,955 per kg. At the latest update, it was trading at Rs 2,24,844, up Rs 2,706 or 1.22 percent.

In the global market, spot gold rose nearly 1 percent, trading close to $1,900 per ounce, while silver increased by nearly 1 percent to around $24 per ounce.

Market analysts noted that gold's recovery from a nine-month low was driven by the significant drop in crude oil prices, which alleviated inflation fears after the US and Iran paused their military engagements. The decline in oil prices also contributed to a weaker US dollar, enhancing the appeal of bullion for investors.

The dollar index fell to approximately 101.2 on Monday, giving back some of last week's gains as reduced geopolitical tensions eased worries about energy supply disruptions.

Experts predict a cautiously optimistic outlook for both gold and silver in the near term.

For MCX Gold, immediate resistance is identified in the Rs 1,45,500-1,46,000 range, while support is noted at Rs 1,43,500-1,43,000. A sustained movement above the resistance zone could bolster the recovery.

For MCX Silver, immediate resistance is set at Rs 2,26,000-2,26,500 per kg, followed by Rs 2,28,000-2,28,500, with support seen in the Rs 2,23,000-2,22,300 range. Analysts suggest that prices must maintain their current levels and reclaim the immediate resistance zone to gain further upward momentum.