Gold Price Today: Gold and Silver Jump Up to 2 Percent on MCX as US Fed Rate Hike Bets Ease

Gold price today: MCX Gold Rs 147,599 (+1.26%). Silver Rs 236,914 (+1.55%). International gold above $4,100. Weak US jobs data cools Fed hike odds to ~50%.

Gold price today has jumped sharply on the MCX, with the most active gold futures contract trading at Rs 147,599 per 10 grams, up 1.26 percent, while silver futures climbed to Rs 236,914 per kilogram, up 1.55 percent, extending gains from the previous session as traders continue to scale back bets on further US Federal Reserve rate hikes.

The rally in gold price today follows a much weaker than expected US jobs report released overnight, with the world’s largest economy adding just 57,000 jobs in June, well below the roughly 110,000 forecast, marking the fewest new jobs in four months even as the unemployment rate ticked down to 4.2 percent.

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Why Gold Price Today Is Rising

Gold price today is being driven primarily by shifting expectations around Federal Reserve policy, with fed funds futures now implying roughly a 50 percent chance of a September rate hike, down sharply from around 67 percent before Thursday’s weak jobs data. Lower interest rate hike odds typically support gold, since the metal pays no yield and becomes relatively more attractive when the opportunity cost of holding it falls.

Fed Chair Kevin Warsh added to the supportive backdrop for gold price today, having said earlier in the week that inflation expectations are moderating even while reaffirming the central bank’s commitment to price stability, a comment markets read as leaving room for a more patient approach to rate decisions in the months ahead. International spot gold has held above $4,100 an ounce, rebounding from an eight month low touched earlier this week.

Gold Price Today: Key MCX Levels

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Gold price today has also drawn additional support from softer crude oil prices and easing inflation concerns, as commercial shipping through the Strait of Hormuz continues to recover amid progress in indirect US-Iran talks, a combination of factors reducing the broader inflationary backdrop that had previously kept rate hike expectations elevated.

Key Levels Experts Are Watching for Gold Price Today

With gold price today extending Thursday’s rally that saw the metal gain more than 2 percent in a single session, market watchers are focused on whether international spot gold can sustain levels above the $4,100 mark, a psychological level that had acted as resistance during the recent pullback from the metal’s earlier 2026 highs. On the MCX, the Rs 147,000 to Rs 148,000 zone on the most active gold contract is being watched as a near term pivot, with a sustained move above this range potentially opening the path toward the recent swing highs, while a slip back below could see the metal retest levels closer to Rs 145,000.

For silver, the Rs 235,000 to Rs 240,000 band on MCX is the range experts are watching most closely, given silver’s dual role as both a monetary and industrial metal makes it more sensitive to shifts in global growth expectations alongside the same interest rate dynamics driving gold price today.

Quick take: gold price today reflects a market that has quickly repriced Fed rate hike expectations lower following one soft jobs report, a reminder of how sensitive bullion remains to incoming US economic data.

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Key Risks to Watch on Gold Price Today

Since today’s rally in gold price today is built substantially on reduced Fed rate hike odds following a single jobs report, any subsequent economic data that reinforces a hawkish Fed stance could quickly reverse today’s gains, particularly given how sharply positioning shifted after Thursday’s release. With US markets closed today for the Independence Day holiday, trading volumes and price discovery may also be thinner than usual, a factor that can amplify volatility in both directions.

Conclusion

Gold price today has climbed sharply on the MCX, with gold and silver both up over 1 percent as markets continue digesting a much weaker than expected US jobs report that has cut the odds of a September Federal Reserve rate hike roughly in half. With international spot gold holding above $4,100 and the Rs 147,000 to Rs 148,000 zone in focus on MCX, investors should track incoming US economic data closely as the key swing factor for gold price today in the sessions ahead. This article is for educational purposes and is not investment advice; consult a SEBI-registered investment adviser before making any investment decision.

FAQs on Gold Price Today

1. Why is gold price today rising?

Ans. Gold price today is rising as traders scale back bets on further US Federal Reserve rate hikes following a much weaker than expected June jobs report, which showed the US economy added just 57,000 jobs against forecasts of around 110,000.

2. What is the MCX gold price today?

Ans. The most active MCX gold futures contract is trading at Rs 147,599 per 10 grams, up 1.26 percent, while gold mini futures are at Rs 147,312, up 1.16 percent.

3. What is the MCX silver price today?

Ans. MCX silver futures are trading at Rs 236,914 per kilogram, up 1.55 percent, with silver mini futures at Rs 239,420, up 1.40 percent.

4. What key levels are experts watching for gold price today?

Ans. On MCX, the Rs 147,000 to Rs 148,000 zone is a key near term pivot for gold, while international spot gold holding above $4,100 an ounce is being closely watched.

5. How have Fed rate hike odds changed?

Ans. Fed funds futures now imply roughly a 50 percent chance of a September rate hike, down from around 67 percent before Thursday’s weak US jobs data.

6. What are the key risks to gold price today?

Ans. Any economic data that reinforces a hawkish Fed stance could quickly reverse today’s gains, and with US markets closed for the Independence Day holiday, thinner trading volumes could amplify volatility.