MARKET MOVES

MCX gold prices rise Rs 600/10 grams; silver jumps Rs 3,000/kg ahead of Diwali, but rate hike bets linger. What should you do?

2026-11-02·Economic Times·Impact 2/5 · Moderate

MeridStreet AI summary

Gold prices on the MCX rose by Rs 600 per 10 grams, while silver jumped by Rs 3,000 per kilogram ahead of Diwali. This increase is likely due to the upcoming festival season, which typically boosts demand for gold and silver. However, the market remains cautious due to ongoing concerns about inflation and potential interest rate hikes by the US Federal Reserve, which could limit further gains in these non-yielding precious metals.

Source reporting

Read the source report: Economic Times →

MeridStreet analysis

Why it matters

Gold and silver futures rose ahead of Diwali, but rate hike bets linger. This could lead to a short-term price increase, but the overall trend remains uncertain.

Market impact

Impact score

2 / 5

Market signal

Neutral

Markets & countries in focus

United States

Transmission channels

Gold prices rise→Investors buy gold→Short-term price increase→Uncertain overall trend

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MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to Economic Times. For information only — not financial advice.