Gold prices fell in international markets on Tuesday, October 13, with COMEX gold futures trading at $4,173.70 an ounce, down $16.90 or 0.40% from the previous close of $4,195.50 an ounce. Spot gold fell 0.2% to $4,164.45 per ounce by 0201 GMT after hitting a one-week peak on Monday. US gold futures for December delivery fell 0.1% at $4,187.90. COMEX silver futures declined $0.698, or 1.15%, to $59.815 an ounce, compared with the previous close of $60.555 an ounce. According to The Hindu BusinessLine, gold and silver prices dropped as a firm US dollar and uncertainty over the Federal Reserve's interest-rate outlook weighed on precious metals ahead of US inflation data. In the domestic market, gold and silver futures were not trading at the time of writing, though on the Multi Commodity Exchange (MCX), gold and silver futures had settled at ₹1,49,540 per 10 grams and ₹2,22,950 per kg, respectively. The decline comes as a stronger US dollar and higher 10-year Treasury yields continue to weigh on bullion, with the US Dollar Index remaining near an 18-month high. Gaurav Garg, head of research at Lemonn, said gold was trading lower as investors awaited US inflation data and other economic releases for signals on the Fed's interest-rate outlook, noting that the dollar's strength has limited the upside for precious metals despite softer oil prices in the previous session.
24-karat gold prices declined sharply on the second day of Navratri on Monday, October 12, 2026, with 100 grams gold dropping by ₹4,400, 10 grams falling ₹440, and 8 grams gold down ₹44. In major cities, 24-carat gold prices in Chennai, Mumbai, Pune, Kerala, Hyderabad, Bangalore and Kolkata stood at ₹15,09,800 per 100 grams, ₹1,50,980 per 10 grams and ₹15,098 per gram. Delhi prices were expensive and above ₹1.51 lakh mark, with 100 grams at ₹15,11,300, 10 grams at ₹1,51,130 and 1 gram at ₹15,113. 22-carat gold prices in Chennai, Mumbai, Kolkata, Kerala, Hyderabad, Pune and Bangalore were at ₹13,840 per gram, ₹1,38,400 per 10 grams and ₹13,84,000 per 100 grams. In Delhi, gold was priced at ₹13,855 per gram, ₹1,38,550 per 10 grams and ₹13,85,500 per 100 grams. 18-carat gold (750 purity) was available at ₹11,324 per gram, ₹1,13,240 per 10 grams and ₹11,32,400 per 100 grams in cities like Mumbai, Bangalore, Kolkata, Delhi, Kerala, Pune and Hyderabad, while Chennai prices were highest at ₹11,370 per gram, ₹1,13,700 per 10 grams and ₹11,37,000 per 100 grams. Silver rates in Chennai, Hyderabad, and Kerala are priced at ₹2.45 lakh per kg, while other major cities like Mumbai, Bangalore, Pune, Kolkata, Ahmedabad, Vadodara, Delhi are at ₹2.40 lakh per kg.
Gold and silver rates in India fell as the escalating conflict in the Middle East stoked fears that further energy supply disruptions could keep inflation elevated. The gold rate in India on Tuesday is ₹1,49,760 per 10 gms while the silver rate is ₹2,23,280 per kg, at 7:40 am, according to Bullions website. In the international market, spot gold edged down 0.4% to $4,156.27 an ounce at 8:56 a.m. Singapore time, while silver slipped 0.5% to $59.93, according to Bloomberg. On Monday, Oct. 12, MCX gold December futures slipped below the ₹1,50,000 mark again, settling at the end of the session at ₹1,49,543, while MCX Silver futures with Dec. 4 expiry also declined to ₹2,22,877 per kg. Bullion traded near $4,160 an ounce after closing 0.5% lower in the previous session, with the precious metal having fallen about a fifth since the US.-Iran war erupted in late February, triggering global inflation and tighter monetary policy from central banks. Brent crude hovered near $106 a barrel as Houthi attacks on Saudi Arabia's main airport, backed by Iran, increased pressure on Washington to support its ally. The widening conflict in the Middle East fueled fears that further disruptions to energy supplies could keep inflation elevated and raise the likelihood of interest-rate hikes, as noted by NDTV Profit.
Investors are now focused on the US Consumer Price Index (CPI) report due on Wednesday, followed by the Producer Price Index (PPI) and retail sales data on Thursday, with CME's FedWatch tool showing traders see an 88% probability of a rate hike in December and a 17% probability of an October increase. According to The Hindu BusinessLine, Kyle Rodda, senior financial market analyst at Capital.com, said US CPI data will be critical for gold in the short-term, noting that if inflation comes in hotter than expected, particularly on the core measure, and prompts even a modest increase in expectations of an October rate hike, it could result in another dip in gold. Cleveland Fed President Beth Hammack said the US central bank should move "relatively quickly" to a more restrictive monetary policy stance to control inflation, which she feels has become broader-based and is starting to influence firms' price-setting plans. When interest rates are elevated, investors typically gravitate toward yield-bearing assets rather than gold. The latest FOMC minutes showed policymakers remain concerned about inflation, with some focused on energy-driven price shocks and a hawkish core worried about demand-led inflation. A stronger dollar makes dollar-denominated bullion more expensive for buyers using other currencies, while higher yields can make interest-bearing assets more attractive relative to precious metals, as noted by CNBC TV18. Geopolitical developments and energy prices are also influencing market sentiment, with Brent crude near $105.90 a barrel amid concerns over West Asia supply risks, which can add to inflationary pressure and complicate expectations for interest-rate cuts.
Long-term investors can accumulate gold and silver on dips, while traders can follow a buy-on-dips strategy as long as gold holds above $4,110 per troy ounce and silver stays above $59.10 per troy ounce, according to The Economic Times. Among other precious metals, spot silver eased 0.5% to $60.01, platinum fell 0.2% to $1,682.47, and palladium fell 0.5% to $1,137.69. Underlying investment demand for bullion remains strong, with inflows into gold-backed ETFs reaching a four-year high as investors increasingly focus on rising fiscal deficits, government debt-servicing costs and longer-term currency debasement risks. Central-bank accumulation also continues to provide structural support, with the People's Bank of China adding around 740,000 ounces of gold during September, extending its buying streak to 23 consecutive months. However, the monetary-policy backdrop remains a significant headwind, with persistent inflationary pressures keeping the possibility of additional Fed tightening alive, supporting nominal and real Treasury yields and increasing the opportunity cost of holding non-yielding bullion. For Indian investors, currency weakness can cushion domestic prices when global bullion is under pressure and magnify gains when international prices rise, as noted by Giottus.com experts. International bullion prices are only one factor determining domestic gold and silver rates, with the rupee-dollar exchange rate, import costs, duties and domestic premiums also influencing prices in India.
