The US Federal Reserve's denial of a potential interest rate cut has strengthened the dollar, putting pressure on gold and silver prices. On Thursday, gold on MCX fell by ₹1,693 to ₹1,18,973 per 10 grams, and silver reached ₹1,44,730 per kilogram. According to experts, further price drops are possible if the dollar's strength continues.
Gold Rates: Following the US Federal Reserve's decision on interest rates, gold and silver prices saw a decline in both domestic and international markets on Thursday, October 30, 2025. The Fed indicated that there would be no rate cuts for now, which strengthened the dollar index and prompted investors to move away from safe-haven assets. Consequently, gold on MCX dropped to ₹1,18,973 per 10 grams, while silver fell to ₹1,44,730 per kilogram. Experts suggest that if the dollar's strength persists, the prices of precious metals could fall further, although a rebound is possible if geopolitical tensions escalate.
Gold Becomes Cheaper, Silver Also Falls
On Thursday, gold prices on the Multi Commodity Exchange (MCX) witnessed a decline of approximately 1.40 percent. 10 grams of gold now stands at ₹1,18,973, which is about ₹1,693 less than the previous session. Silver was not spared from this downward trend either, with its price per kilogram recorded at approximately ₹1,44,730, marking a 0.92 percent drop.
In the international market, spot gold was trading at around 3,933 US dollars per ounce. Silver prices were also trading with a slight softness. Due to the dollar's strength, investors have reduced their investments in safe-haven assets like gold and silver.
Impact of Fed Reserve's Decision on the Market
The US Federal Reserve Bank did not make any changes to interest rates this time but has deferred the possibility of future rate cuts. This stance by the Fed has strengthened the dollar and led to an increase in bond yields. Since gold is bought and sold in dollars, a ber dollar makes gold more expensive for investors, which is why prices have declined.
Fluctuations in the Domestic Market
Market experts believe that if the dollar's strength continues, gold and silver prices could see further declines in the coming days. However, in the event of global geopolitical tensions or a major economic crisis, the demand for gold could increase again.
Meanwhile, gold and silver prices in the domestic market have also been volatile over the past few weeks. Prices had reached record highs during the festive season, but investors have now started adopting a cautious approach.
Current Situation in the Retail Market
At the retail level, on October 30, 24-carat gold was priced at approximately ₹12,284 per gram. Meanwhile, 22-carat gold was selling for around ₹11,260 per gram. As for silver, its retail price was recorded at about ₹1,45,190 per kilogram.
In India, gold and silver prices depend on several factors such as local demand, global markets, the movement of the dollar, and changes in import duties. Currently, following the Fed's decision, the prices of both precious metals continue to show softness.
