Gold, silver prices today: Can precious metals extend recovery? Sugandha Sachdeva flags key levels
Gold and silver prices are seen recovering from lower levels as expectations of a rate hike at the Fed’s October meeting have eased.
- Oct 9, 2026,
- Updated Oct 9, 2026 3:06 PM IST
Gold and silver prices are attempting to recover as expectations of a US Federal Reserve rate hike in October have eased. However, rising US Treasury yields and a stronger dollar continue to limit the upside, making key support and resistance levels crucial for traders and investors.
In the domestic market, MCX gold was trading at ₹1,49,735 per 10 grams, up 0.42%. MCX silver stood at ₹2,21,211 per kilogram, marginally lower by 0.01%.
In the international market, gold futures were trading at $4,200.15 per ounce, up 1.04%, while silver futures gained 1.56% to $60.345 per ounce.
What is driving gold and silver prices?
According to Sugandha Sachdeva, founder SS WealthStreet, precious metals are finding support as expectations of a Fed rate hike in October have declined.
"Gold and silver prices are seen recovering from lower levels as expectations of a rate hike at the Fed’s October meeting have eased. In the international market, gold continues to hold a strong support zone around 4,050–4,100 per ounce, while immediate resistance is seen near $4,240 per ounce," Sachdeva said.
She noted that softer personal consumption expenditures (PCE) inflation data and a weaker US employment report have reduced market expectations of another rate hike. However, the outlook remains dependent on the trajectory of inflation, bond yields and the US dollar.
Sachdeva also highlighted that elevated US Treasury yields and strength in the Dollar Index could restrict further gains in precious metals. A sustained easing in yields and a softer dollar would improve the outlook for gold and silver.
Crude oil and geopolitical developments in focus
Crude oil prices and geopolitical developments remain important factors for precious metals. A sustained decline in crude prices could ease energy-related inflationary pressures, potentially reducing the need for further monetary tightening and supporting gold and silver.
However, renewed geopolitical tensions or another sharp rise in oil prices could keep inflation concerns elevated and limit the recovery in precious metals.
Gold, silver: Key support and resistance levels
According to Sachdeva, international gold has support in the 4,050–4,100 per ounce zone, with immediate resistance at $4,240 per ounce.
In the domestic market, MCX gold has support around ₹1,48,000 per 10 grams. On the upside, resistance is placed at ₹1,51,500, followed by ₹1,54,600.
For silver, the domestic support level is around ₹2,17,000 per kg, while resistance is seen at ₹2,28,800 and then ₹2,36,000. In the international market, silver has closing support near $58.50 per ounce and immediate resistance at $62.50 per ounce.
Sachdeva's outlook remains cautiously positive as long as these key support levels hold. However, a closing break below $4,050 in international gold or $58.50 in silver could weaken the technical structure and open the door to further downside.
For now, traders will closely track the US dollar, Treasury yields and crude oil prices for cues on whether gold and silver can extend their recovery.
Gold and silver prices are attempting to recover as expectations of a US Federal Reserve rate hike in October have eased. However, rising US Treasury yields and a stronger dollar continue to limit the upside, making key support and resistance levels crucial for traders and investors.
In the domestic market, MCX gold was trading at ₹1,49,735 per 10 grams, up 0.42%. MCX silver stood at ₹2,21,211 per kilogram, marginally lower by 0.01%.
In the international market, gold futures were trading at $4,200.15 per ounce, up 1.04%, while silver futures gained 1.56% to $60.345 per ounce.
What is driving gold and silver prices?
According to Sugandha Sachdeva, founder SS WealthStreet, precious metals are finding support as expectations of a Fed rate hike in October have declined.
"Gold and silver prices are seen recovering from lower levels as expectations of a rate hike at the Fed’s October meeting have eased. In the international market, gold continues to hold a strong support zone around 4,050–4,100 per ounce, while immediate resistance is seen near $4,240 per ounce," Sachdeva said.
She noted that softer personal consumption expenditures (PCE) inflation data and a weaker US employment report have reduced market expectations of another rate hike. However, the outlook remains dependent on the trajectory of inflation, bond yields and the US dollar.
Sachdeva also highlighted that elevated US Treasury yields and strength in the Dollar Index could restrict further gains in precious metals. A sustained easing in yields and a softer dollar would improve the outlook for gold and silver.
Crude oil and geopolitical developments in focus
Crude oil prices and geopolitical developments remain important factors for precious metals. A sustained decline in crude prices could ease energy-related inflationary pressures, potentially reducing the need for further monetary tightening and supporting gold and silver.
However, renewed geopolitical tensions or another sharp rise in oil prices could keep inflation concerns elevated and limit the recovery in precious metals.
Gold, silver: Key support and resistance levels
According to Sachdeva, international gold has support in the 4,050–4,100 per ounce zone, with immediate resistance at $4,240 per ounce.
In the domestic market, MCX gold has support around ₹1,48,000 per 10 grams. On the upside, resistance is placed at ₹1,51,500, followed by ₹1,54,600.
For silver, the domestic support level is around ₹2,17,000 per kg, while resistance is seen at ₹2,28,800 and then ₹2,36,000. In the international market, silver has closing support near $58.50 per ounce and immediate resistance at $62.50 per ounce.
Sachdeva's outlook remains cautiously positive as long as these key support levels hold. However, a closing break below $4,050 in international gold or $58.50 in silver could weaken the technical structure and open the door to further downside.
For now, traders will closely track the US dollar, Treasury yields and crude oil prices for cues on whether gold and silver can extend their recovery.