Gold, silver rise on MCX as crude, bond yields ease on 26 August
Synopsis
Gold and silver on MCX posted intraday gains of nearly 1 per cent on 26 August, with gold touching ₹1,63,202 and silver hitting ₹2,46,180, as easing crude oil prices, softer bond yields, and Oman-Iran Strait of Hormuz talks shifted the macro backdrop in favour of precious metals. The next big test: US inflation data that could reset Fed rate expectations.
Key Takeaways
MCX gold (October) opened at ₹1,63,202 per 10 grams on 26 August , up ₹320 from its previous close.
MCX silver (September) opened at ₹2,45,583 per kg , up ₹1,456 , touching an intraday high of ₹2,46,180 .
COMEX gold traded at $4,699 an ounce (+0.11%); COMEX silver near $69 an ounce (+0.74%).
Easing crude oil prices, lower bond yields, and a weaker dollar were cited as the key drivers by commodity experts.
Brent crude slipped to around $88 a barrel after reports of Oman-Iran talks on the Strait of Hormuz .
Analysts see gold resistance at ₹1,63,400 and silver resistance at ₹2,48,800 ; US inflation data is the next key trigger.
Gold and silver futures on the Multi Commodity Exchange (MCX) traded higher on Wednesday, 26 August, with both precious metals posting intraday gains of nearly 1 per cent, supported by easing crude oil prices, softer bond yields, and a weaker dollar.
MCX Gold Performance
MCX gold futures (October contract) opened at ₹1,63,202 per 10 grams, up ₹320 from the previous close of ₹1,62,882. The yellow metal touched an intraday high of ₹1,63,202 — a gain of 0.19 per cent — before paring gains to trade around ₹1,62,395, down ₹487 or 0.3 per cent, at last count. The intraday low stood at ₹1,62,286, a decline of 0.36 per cent or ₹596 from the opening level.
MCX Silver Performance
MCX silver futures (September contract) opened at ₹2,45,583 per kg, up ₹1,456 from the prior close of ₹2,44,127. The white metal hit an intraday high of ₹2,46,180 — a rise of 0.84 per cent or ₹2,053 — before settling near ₹2,44,200 per kg, marginally down ₹73 or 0.03 per cent.
Global Cues and Key Drivers
In international markets, COMEX gold was up 0.11 per cent at around $4,699 an ounce, while COMEX silver gained 0.74 per cent to trade near $69 an ounce. According to commodity market experts, easing crude prices and lower bond yields provided the primary tailwind, with a softer dollar adding further support to bullion.
Notably, reports of discussions between Oman and Iran on reopening the Strait of Hormuz and removing mines helped ease fears of supply disruptions, pulling Brent crude down to around $88 a barrel — extending its losing streak to a third consecutive session.
Technical Outlook and What to Watch
Commodity analysts note that MCX gold has resumed trading on a steady footing after recently touching a more-than-three-month high. Traders are now focused on upcoming US inflation data for cues on the Federal Reserve's interest rate trajectory. Gold has been consolidating in the ₹1,62,500–₹1,63,400 range, with a breakout above ₹1,63,400 potentially opening the path to ₹1,63,900, according to analysts. Key downside support is pegged near ₹1,61,130, based on the 20-EMA on the four-hour chart.
For MCX silver, resistance is seen at ₹2,48,800, with a breakout above that level potentially accelerating bullish momentum toward ₹2,55,000. Analysts broadly expect silver to remain sideways to bullish through Wednesday's session. The next directional trigger for both metals is likely to come from the US inflation print and any fresh Fed commentary.
Point of View
Sustained crude softness could keep real yields suppressed and extend gold's run. But with gold already near a three-month high and COMEX prices above $4,699, the next leg depends squarely on whether the Fed signals a pivot or holds firm — making Wednesday's session less about momentum and more about positioning.
NationPress
26 Aug 2026
Frequently Asked Questions
What is the MCX gold price today on 26 August?
MCX gold futures (October contract) opened at ₹1,63,202 per 10 grams on 26 August, up ₹320 from the previous close of ₹1,62,882. The metal later pared gains to trade around ₹1,62,395, down 0.3 per cent, at last count.
Why are gold and silver prices rising today?
According to commodity market experts, easing crude oil prices, lower bond yields, and a weaker dollar have supported precious metal prices. Reports of Oman-Iran discussions on reopening the Strait of Hormuz have also reduced oil supply-disruption fears, adding to the positive backdrop.
What is the MCX silver price on 26 August?
MCX silver futures (September contract) opened at ₹2,45,583 per kg and touched an intraday high of ₹2,46,180. At last count, silver was trading near ₹2,44,200 per kg, marginally down ₹73 or 0.03 per cent.
What are the key technical levels to watch for MCX gold and silver?
For MCX gold, analysts see resistance at ₹1,63,400, with a breakout potentially targeting ₹1,63,900; downside support is near ₹1,61,130 based on the 20-EMA on the four-hour chart. For MCX silver, resistance is at ₹2,48,800, with a breakout seen accelerating momentum toward ₹2,55,000.
What is the next major trigger for gold prices?
Commodity analysts say traders are focused on upcoming US inflation data for cues on the Federal Reserve's interest rate path. A softer-than-expected inflation print could reinforce expectations of rate cuts, which would typically be bullish for gold and silver.
