Gold eyes sharp recovery; can MCX prices hit Rs 1.5 lakh? Vandana Bharti explains

Gold prices are attempting a comeback after a sharp correction, with international prices moving closer to the $4,200 mark. Silver, meanwhile, is showing a more modest recovery and continues to face pressure. For investors, the big question is whether gold can sustain its rebound and how far silver can recover.

On October 15, MCX Gold futures were trading at Rs 1,47,558 per 10 grams, up 1.17%, while MCX Silver futures gained 0.61% to Rs 2,09,606 per kilogram.

In the international market, gold futures rose 1.45% to $4,167.34 per ounce, while silver futures climbed 0.45% to around $56 per ounce.

What is driving gold's recovery?

According to Vandana Bharti of SMC Global Securities Ltd, gold has rebounded after a sharp correction triggered by heavy selling in paper markets. The international market is now watching the $4,200–4,220 range, which could be an important zone for the next move.

However, the recovery may not translate fully into domestic prices. Bharti points to the stronger Indian rupee as a factor limiting gains in gold prices in India.

For MCX Gold, she expects prices to trade in the Rs 1,45,000–1,50,000 range per 10 grams. This makes Rs 1.50 lakh level an important mark to watch as traders assess whether the rebound can continue.

Why is silver still struggling?

Silver's recovery has been more restrained. Bharti notes that silver tends to be more volatile than gold, making its price movements sharper in both directions. Despite the pressure, a recovery towards Rs 2,15,000 per kilogram cannot be ruled out.

For investors tracking precious metals, the key levels are $4,200–4,220 for international gold, Rs 1.45 lakh–Rs 1.50 lakh per 10 grams for MCX Gold, and Rs 2.15 lakh per kilogram as a potential recovery level for MCX Silver.

The next move will depend on whether gold sustains its rebound and whether silver can build on its modest gains.