Gold Rates & Silver Rates Today (2/11/2026) LIVE: Spot Gold Up 1%, Silver Price Gains 2% After October Crash

Gold rates and silver rates in India are likely to perform higher on Monday due to the uptrend in the global bullion market. On November 2, 2026, spot gold surged by 1% to trade around $3,900 per ounce, while spot silver rallied by 2% to trade near $49.75 per ounce. The bullion market is starting the first trading session of the month. The gains come after spot gold and spot silver crashed in October 2026 by 6% and 18.4%.

The precious metals' performance are also fuelled by a decline in crude oil prices. US WTI crude dropped 3% to trade around $101 per barrel, and Brent crude oil plunged 2.7% to trade around $110 per barrel.

Oil prices declined amid signs of ongoing diplomatic efforts to prevent renewed US military action against Iran following the midterm elections. President Trump had previously threatened to resume strikes against Iran after the vote, while Tehran warned of broader retaliation. Meanwhile, investors are awaiting this week's closely watched US jobs report for further insight into the Federal Reserve's monetary policy outlook, with markets currently assigning around a 75% probability of a rate hike in December. Last week, gold faced significant selling pressure as persistent concerns over energy-driven inflation strengthened expectations of further Fed rate increases. A broader global equity selloff fueled by AI concerns also prompted investors to liquidate gold holdings to cover losses in other assets, as per Trading Economics.

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Nov 02, 2026, 9:06 am IST

Live Silver Rates Today: How MCX Silver Will Perform This Week?

A sustained recovery above these levels would be necessary to stabilise the price structure. On the downside, ₹1,76,000–₹1,78,000 remains the immediate support zone, with a break below this range potentially dragging prices towards ₹1,70,000–₹1,72,000. The daily RSI, near 17, indicates extremely oversold conditions, while the MACD continues to show a widening negative spread. This leaves room for sharp, volatile relief rallies, even as the broader downtrend remains intact. The decline tracked the steep fall in international silver prices below $50 an ounce, amid rising expectations of further Fed tightening, resilient U.S. GDP growth, elevated PCE inflation and widespread liquidation across precious metals. The technical outlook remains firmly bearish, with silver continuing to underperform gold and experience steeper losses: Ponmudi R, CEO of Enrich Money.

Nov 02, 2026, 9:06 am IST

Live Gold Rates Today: MCX Gold Outlook For November 2-6

A sustained move above these levels would be needed to improve the recovery outlook. On the downside, ₹1,37,500–₹1,38,300 remains the immediate support zone, with a break below this range potentially dragging prices towards ₹1,34,000–₹1,35,000. The daily RSI, near 28, indicates oversold conditions, while the MACD remains firmly negative. The weekly chart has also turned bearish, pointing to a deterioration in the broader technical outlook. The decline mirrored the sharp sell-off in international gold prices, as the Federal Reserve's decision to hold rates, coupled with two hawkish dissents, resilient U.S. economic data and a technology-led equity market rout, intensified selling pressure and dragged global gold to a 12-month low. A relatively stable rupee near ₹95 per dollar offered little support to domestic prices. The near-term trend remains weak, with a sustained recovery above ₹1,40,000 needed to ease selling pressure: Ponmudi R, CEO of Enrich Money.

Nov 02, 2026, 8:51 am IST

Live Silver Rates Today: SPOT Silver Outlook For This Week

A sustained recovery above these levels would be necessary to stabilise the price structure. On the downside, $48.50–$49.00 remains the immediate support zone, with a break below this range potentially dragging prices towards $46.00–$46.50. The daily RSI, near 22, indicates deeply oversold conditions, while the MACD continues to show a widening negative spread, reinforcing the bearish trend. Silver fell nearly twice as sharply as gold on Friday as hawkish Fed signals, resilient U.S. economic data and persistent inflation concerns, coupled with a technology-led equity market sell-off, triggered widespread liquidation across precious metals. The metal has lost approximately 19% in October. The near-term technical bias remains firmly bearish, although deeply oversold conditions increase the likelihood of sharp and volatile recovery attempts: Ponmudi R, CEO of Enrich Money.

Nov 02, 2026, 8:51 am IST

Live Gold Rates Today: Weekly Outlook For Spot Gold

A sustained recovery above these levels would be necessary to signal an improvement in the technical structure. On the downside, $3,770–$3,800 remains the immediate support zone, with a break below this range potentially opening the way for a further decline towards $3,700. The daily RSI, near 28, indicates deeply oversold conditions, making a technical rebound possible. However, the MACD continues to widen on the downside, reinforcing the prevailing bearish momentum. Gold's decline gathered pace after the Federal Reserve held interest rates at 3.75%–4.00% on Wednesday, with two policymakers dissenting in favour of an immediate hike. Strong U.S. GDP growth and elevated PCE inflation subsequently kept the possibility of a December rate hike in focus. Selling intensified on Friday as a technology-led equity market sell-off triggered margin calls and forced liquidation across precious metals. Gold settled at its lowest level in 12 months. The near-term technical bias remains firmly bearish, with the U.S. employment report due on November 6 emerging as the next key event for markets: Ponmudi R, CEO of Enrich Money.

Nov 02, 2026, 8:29 am IST

Live Silver Rates Today: Spot Silver Jumps 2%

Spot silver price rallied by nearly 2% to trade near $49.75 per ounce, also recovering from their 1-year low as crude oil prices declined. As per Trading Economics, investors are awaiting this week’s closely watched US jobs report for further insight into the Federal Reserve’s monetary policy outlook, with markets currently assigning around a 75% probability of a rate hike in December. Last week, silver faced significant selling pressure as persistent concerns over energy-driven inflation strengthened expectations of further Fed rate increases. A broader global equity selloff fueled by AI concerns also prompted investors to liquidate silver holdings to cover losses in other assets.

Nov 02, 2026, 8:29 am IST

Live Gold Rates Today: Spot Gold Jumps 1%

Spot gold price gained by nearly 1% to trade around $3,900 per ounce, recovering from their one-year lows as declining oil prices eased concerns over inflation and potential interest rate increases. Oil prices declined amid signs of ongoing diplomatic efforts to prevent renewed US military action against Iran following the midterm elections, as per Trading Economics.