Business

US inflation data sends MCX gold down 1.3% and silver lower by ₹8257

Gold and silver prices fell sharply on the Multi Commodity Exchange after US retail inflation data showed higher-than-expected increases in headline and core consumer prices. The 4 December 2026 MCX contracts recorded steep declines, while global bullion prices also weakened after the inflation release.

Editor: AI News 24x7 Published: 14 Oct 2026, 10:49 PM Updated: 14 Oct 2026, 10:49 PM

US inflation data sends MCX gold down 1.3% and silver lower by ₹8257.

Gold and silver prices dropped sharply after the United States released retail inflation data showing higher increases in headline and core consumer prices. The decline was visible across domestic and global bullion markets, with silver suffering the larger fall on the Multi Commodity Exchange.

The 4 December 2026 gold contract on MCX fell 1.3%, or ₹2051, to ₹148450 per 10 grams. The 4 December 2026 silver futures contract dropped 3.77%, or ₹8257, to ₹219217 per kilogram.

The move followed the release of US consumer price data on Wednesday. According to the US Bureau of Labor Statistics, headline CPI rose 0.6% month-on-month in September, while core CPI increased 0.3% month-on-month.

The headline result matched the 0.6% estimate and exceeded the 0.4% figure recorded in August. Core CPI was higher than the 0.2% estimate and matched the 0.3% August reading.

Domestic and global prices

The reaction was not limited to Indian futures. On COMEX, gold declined 1.63% to $4,184 per ounce. Converted into Indian currency, that level was described as approximately ₹142154 for 10 grams.

COMEX silver fell 5.47% to $59.415 per ounce. Its equivalent Indian price was given as approximately ₹201,812 per kilogram.

The figures show a sharper decline in silver than gold across both the MCX and COMEX references. On MCX, the silver contract's fall was 3.77%, compared with gold's 1.3% decline. On COMEX, silver fell 5.47%, while gold declined 1.63%.

Expert view on the market reaction

Market and commodity expert Anuj Gupta attributed the weakness in bullion prices to the US CPI data remaining above expectations. He said bond yields rose after the release, while expectations of higher interest rates increased from 20% to 30%.

According to Gupta, that combination is negative for bullion and other asset classes. He said gold was trading at 146500 and $4094 levels, while silver was trading at 211500 and $56.24 levels.

Gupta also indicated that further declines were expected. His stated levels were $3900 to $3800 for gold and $54 to $50 for silver in the coming days.

The reported prices and expert levels refer to different market references and points in the trading session. The MCX contract figures provide the domestic futures prices reported after the inflation data, while the COMEX figures represent international bullion prices.

What the data means for bullion prices

The immediate market response was a fall in both precious metals after the US inflation release. Gold declined on MCX and COMEX, while silver recorded a larger percentage drop in each market reference included in the report.

For readers tracking bullion, the reported levels cover MCX contracts, COMEX prices and the expert's separate trading references. These figures should therefore be read according to the market and contract specified alongside each price.

Conclusion

Higher US retail inflation data was followed by a sharp fall in gold and silver prices. The 4 December 2026 MCX silver contract fell ₹8257, while the gold contract declined 1.3%; global prices also moved lower.