Gold-Silver Ratio Widens To 72: Weekly Outlook For 24K, 22K, 18K Gold Rates & Silver Rates From Oct 19-23

Gold rates and silver rates in India continue to be under pressure, falling by 1% and 2% in less than 20 days of October. Another interesting factor that has been seen is the gap between the gold and silver ratio, which widened to 72. Investors' risk appetite for gold is due to expectations of aggressive rate hikes, while silver's weakness can be attributed to elevated treasury yields. During the trading week of October 19 to 23, precious metals will closely watch sustained demand, geopolitical risks, yields and dollar movement, while remarks from US Federal Reserve's chair Kevin Warsh on monetary policy tightening.

Gold Rates In India + Silver Rates In India:

Currently, 24-carat gold price stood at Rs 1,47,660 per 10 grams, at Rs 14,76,600 per 100 grams, at Rs 1,18,128 per 8 grams and at Rs 14,766 per 1 gram.

The 22-carat gold is available at Rs 1,35,350 per 10 grams, at Rs 13,53,500 per 100 grams, at Rs 1,08,280 per 8 grams and at Rs 13,535 per 1 gram.

In case of 18 carat, 10 grams gold is at Rs 1,10,740, 100 grams at Rs 11,07,400, 8 grams at Rs 88,592 and 1 gram gold is at Rs 11,074.

Coming to silver, 1Kg of white metal stood at Rs 2.30 lakh, while 100 grams and 10 grams silver are priced at Rs 23,000 and Rs 2,300. Also, 8 grams and 1 gram silver are priced at Rs 1,840 and Rs 230.

Both gold and silver are down by more than 1% and 2% in October so far. As per Ponmudi R, CEO of Enrich Money, gold and silver remained under pressure, as stronger inflation readings and expectations of further Fed rate hikes reduced the appeal of non-yielding assets. Federal Reserve Chair Kevin Warsh expressed confidence in the U.S. economy but offered limited guidance on the future policy path. Markets continued to price a high probability of a December rate hike, keeping bullion sensitive to Treasury yields and dollar movements. Silver underperformed, falling to around $57-58 an ounce, a decline of around 6%.

The expert also highlighted that the gold-silver ratio has widened to around 72. Silver's weakness reflects its sensitivity to higher yields and a softer risk and growth backdrop.

MCX Gold Price + MCX Silver Price + Spot Silver Price + Spot Gold Price

Last week, MCX gold closed at Rs 1,48 lakh mark, while MCX silver price stood at Rs 2,11,418 per 1Kg.

In the global market, spot gold price slipped to hold around $4,166 per ounce and spot silver stayed below $57 per ounce.

Market participants continued to evaluate the Federal Reserve's monetary policy outlook, with stronger-than-expected US economic data reinforcing expectations of further interest rate increases. Markets are currently pricing in approximately a 72% probability that the Fed will leave rates unchanged this month, while the likelihood of a rate hike in December has climbed to 92%, as per Trading Economics.

Gold Rates & Silver Rates Weekly Outlook For October 19-23

In Ponmudi's opinion, the outlook for gold next week will hinge on whether sustained demand for bonds keeps Treasury yields and the U.S. dollar subdued, offering support to bullion, or whether persistent inflation pressures and the prospect of a December rate hike revive selling pressure. Remarks by Fed Chair Kevin Warsh toward the end of the week will be closely watched for further clues on the interest-rate outlook.

Here are major weekly outlooks for MCX Gold, MCX Silver, Spot Gold, Spot Silver, as per Ponmudi.

MCX Gold Price Weekly Outlook

Immediate resistance is placed at Rs1,48,000-Rs1,48,600, followed by Rs1,50,000-Rs1,50,700. A sustained move above these zones could improve recovery momentum. On the downside, Rs1,45,300-Rs1,46,000 remains the immediate support zone, while a break below this area could drag prices toward Rs1,43,000-Rs1,43,700. The weekly candle shows a long lower wick, indicating some buying near Rs1,45,500, though RSI below 50 and a negative MACD keep the broader bias weak. Domestic gold declined for a fourth consecutive session as the pullback in international prices following the hotter-than-expected U.S. CPI reading coincided with a stronger rupee and subdued physical demand.

The RBI's measures to curb dollar demand supported the rupee's appreciation over five consecutive sessions, taking USD/INR to around Rs95. The near-term outlook for domestic gold remains weak, with a sustained move above Rs1,50,700 needed to signal a meaningful recovery.

Spot Gold Price Weekly Outlook

Immediate resistance is placed at $4,200, followed by $4,270-$4,300. A sustained move above these zones would be needed to revive recovery momentum. On the downside, $4,170 remains the immediate support, while a break below this level could drag prices toward $4,070-$4,100. Gold has now traded in a narrow $4,100-$4,240 range for several weeks, with RSI near 43 and MACD flattening, which points to indecision rather than a clear trend.

MCX Silver Price Weekly Outlook

Immediate resistance is placed at Rs2,14,000-Rs2,15,000, followed by Rs2,19,000-Rs2,20,000. A sustained move above these zones is needed to stabilize sentiment. On the downside, Rs2,07,000-Rs2,08,000 remains the immediate support zone, while a break below this area could drag prices toward Rs2,00,000-Rs2,02,000. The daily chart shows a steep one-day breakdown on Wednesday, with RSI near 32 close to oversold levels and MACD widening further into negative territory.

A stronger rupee and subdued physical demand added to the domestic weakness. Overall, the trend remains weak, with some stabilization likely near support but no confirmed reversal yet.

Spot Silver Price Weekly Outlook

Immediate resistance is placed at $57.50, followed by $59.50-$60.00. A sustained move above these zones is needed to repair near-term sentiment. On the downside, $57.00 remains the immediate support, while a break below this level could drag prices toward $55.00-$55.50 and then $53.50-$54.00. The weekly candle is a long bearish bar with a lower wick, and RSI near 36-40 is approaching oversold territory, so a relief bounce is possible even though momentum remains negative.

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