Gold Rates & Silver Rates Today (7/09/2026) LIVE: MCX Gold & Silver Rates Fall On Rising Crude Oil Prices

Gold rates and silver rates in India are under pressure on Monday, September 7, 2026, due to rising crude oil prices. MCX gold is struggling below Rs 1,52,500 per 10 grams mark and MCX silver plunges below Rs 2,37,500 per 1 Kg levels. This comes after spot gold slipped 1% to trade around $4,400 per ounce and spot silver dipped below $66 per ounce.

On the contrary, US WTI crude futures surged 1% to trade above $92 per barrel and Brent crude rose 1% to trade above $97 per barrel.

The trajectory for the gold market is volatile. Where bullion finds support from heightened geopolitical uncertainty in West Asia and correction in the dollar, the concern of inflationary pressure, elevated crude oil prices, and rate hike probability has kept the momentum under pressure. In the week ahead, gold and silver prices will likely track the performance of global bullions such as spot gold and spot silver.

The expectation of rate hike rose after the latest US jobs data last week. As per Trading Economics, data released Friday showed US nonfarm payrolls rose by 162,000 in August, following an upwardly revised increase of 23,000 in July and well above market expectations for a gain of 56,000. Meanwhile, the unemployment rate remained unchanged at 4.1%, while annual wage growth slowed to 3.1%, although the decline was smaller than economists had expected. Markets increased bets on a September Fed rate hike to roughly 60%, up from around 50% before the data release. Gold also remained under pressure from higher oil prices as the US and Iran exchanged strikes on ships over the weekend, stoking concerns about renewed inflationary pressures.