Gold Rate Today Rises After Fed Decision, Silver Falls on Karwa Chauth: MCX Gold, Silver Prices on 29 October

Gold rates today traded higher on the Multi Commodity Exchange (MCX) on Thursday, October 29, following the US Federal Reserve's decision to keep interest rates unchanged, while silver prices continued to decline. The movement comes on Karwa Chauth, when many households across India purchase gold and silver jewellery, coins and other precious-metal items as part of festive traditions.

Gold Rises After Fed Decision, Silver Prices Continue to Fall on Karwa Chauth

MCX Gold Rate Today: Check Latest Gold Futures Trend

At 10:41 am IST, MCX gold futures for December 4, 2026, delivery were trading at Rs 1,43,860 per 10 grams, up Rs 155, or 0.11%, from the previous close of Rs 1,43,705. Gold opened at Rs 1,43,668, while the recorded trading volume stood at 894 contracts. The spot price quoted alongside the contract was Rs 75,340.

MCX Silver Rate Today: Check Latest Silver Futures Trend

Silver futures, however, remained under pressure. At 10:46 am IST, MCX silver futures for December 4 delivery were trading at Rs 1,93,679 per kilogram, down Rs 646, or 0.33%, from the previous close of Rs 1,94,325. Silver opened at Rs 1,92,643, with trading volume at 959 contracts. The reported spot price was Rs 90,951.

US Fed Holds Interest Rates at 3.75%-4%

The US Federal Reserve kept its benchmark interest rate in the 3.75%-4% range, providing some support to gold after recent selling pressure. The decision to leave rates unchanged avoided an immediate tightening of financial conditions, although it did not guarantee a sustained recovery in bullion prices.

Gold's near-term direction will continue to depend on US inflation data, movements in the dollar and Treasury yields, and expectations for the central bank's next policy decisions. Since gold does not offer interest income, changes in interest-rate expectations and bond yields can influence its appeal relative to interest-bearing assets.

Silver's decline despite the Fed's decision highlights the different factors affecting the two metals. In addition to its role as a precious metal, silver has significant industrial uses, leaving its prices exposed to broader demand expectations and market sentiment.

Gold Rate Today in India on Karwa Chauth on 29 October 2026

Retail gold prices in India remained higher than the equivalent per-gram rates implied by the MCX contract, reflecting differences between domestic jewellery prices and exchange-traded futures. According to GoodReturns data, the 24 Karat gold rate stood at Rs 14,395 per gram, while 22 Karat gold was priced at Rs 13,195 per gram. The 18 Karat rate was Rs 10,796 per gram.

The retail prices for different quantities are as follows:

24 Karat gold: Rs 14,395 per gram; Rs 1,43,950 per 10 grams; Rs 14,39,500 per 100 grams.

22 Karat gold: Rs 13,195 per gram; Rs 1,31,950 per 10 grams; Rs 13,19,500 per 100 grams.

18 Karat gold: Rs 10,796 per gram; Rs 1,07,960 per 10 grams; Rs 10,79,600 per 100 grams.

Silver Rate Today in India on October 29, 2026

Silver retail prices also moved lower, extending the decline reported in the supplied market data. According to GoodReturns, silver was priced at Rs 215 per gram on Thursday, compared with Rs 220 per gram a day earlier, representing a fall of Rs 5 per gram.

The latest retail rates were:

1 gram: Rs 215, down Rs 5.

8 grams: Rs 1,720, down Rs 40.

10 grams: Rs 2,150, down Rs 50.

100 grams: Rs 21,500, down Rs 500.

1 kilogram: Rs 2,15,000, down Rs 5,000.

The continued decline offers some relief to consumers planning to buy silver items during the festive period. Buyers should nevertheless compare local prices, as retail rates can vary across cities and sellers.

Gold, Silver Prices Outlook Ahead

"A stronger dollar may continue to weigh on gold in the near term, while a softer-than-expected policy outlook could provide support for a recovery. Immediate intraday support is placed in the 193000-191600 range, which will be crucial for stabilising prices amid ongoing pressure across the bullion market. The Gold/Silver ratio stands at 74.8:1, indicating that gold continues to outperform silver on a relative basis," said Kaveri More, Commodity Technical Analyst At Choice Broking.

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