Live Gold Rates & Silver Rates Today (7/10/2026): Spot Gold, Silver Falls 1%; MCX Bullion Ahead Of RBI Policy

Gold rates and silver rates in India are likely to trade volatile on Wednesday as investors will focus on RBI's policy rate decision and stance ahead. MCX gold and silver prices claimed above Rs 1.50 lakh per 10 grams and Rs 2.27 lakh per 1 kg overnight as the market predicts the RBI to hike the repo rate by 25 bps to 5.5% for the first time in 11 months, also ending its dovish stance since December 2025.

Global bullion market continues to weigh sentiments on Indian precious metals. In the early hours of Wednesday, spot gold dropped 0.50% to trade around $4,144 per ounce, while spot silver plunged 1% to trade around $60.86 per ounce. Both the precious metals are at their 2-month low. The upcoming US Federal Reserve's minutes of September meeting will impact sentiments ahead.

Oil prices advanced as Iran intensified attacks on tankers in the Strait of Hormuz in recent days, while Saudi forces continued to clash with the Houthis. Treasury yields also remained near multi-decade highs amid concerns over persistent inflation, rising fiscal risks and elevated AI-related debt issuances. Meanwhile, markets are pricing in nearly an 80% chance that the US Federal Reserve will keep rates unchanged this month following weaker-than-expected job growth in September and downward revisions to payrolls for the prior two months. Investors now await minutes from the Fed's latest meeting for further clues on the monetary policy outlook, as per Trading Economics.

Currently, crude oil prices are higher by 1%. US WTI crude oil trades above $90 per barrel and Brent crude above $101 per barrel. The US 10-year treasury yield paused its rising spree to trade around 5.26%, pulling back from its 24-year high of 5.33%. Nonetheless, US treasury yields have gained by 110 basis points year-to-date, keeping pressure on Fed for more rate hikes ahead. US dollar is steady around 102 mark.

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Oct 07, 2026, 8:52 am IST

Live Gold Rates Today: GST Council To End Preferential Tax Treatment To MMTC, STC?

The GST Council is considering ending the preferential tax treatment available to government-nominated agencies such as MMTC and the State Trading Corporation of India (STC) for importing gold and other precious metals. The proposal, expected to be discussed at the GST Council meeting on October 8, aims to bring banks, nominated agencies and bullion exchanges under a more uniform tax structure. Currently, banks and certain nominated agencies pay 3% GST on precious-metal imports, while some agencies have benefited from exemptions introduced in 2017.

Oct 07, 2026, 8:16 am IST

Live Gold Silver Rates Today: Investors Eye Fed Minutes

US Fed will declare minutes from September monetary policy meeting on Wednesday. As per Morningstar's note, the Federal Reserve's meeting minutes could take on extra importance when they are released on Wednesday, given that they will reflect the thought process behind the September decision to raise the federal-funds rate by 25 basis points.

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Oct 07, 2026, 8:15 am IST

Live Gold Silver Rates Today: RBI Policy To Impact?

RBI Governor Sanjay Malhotra, along with the six-member Monetary Policy Committee (MPC), will announce the October 2026 policy decisions on Wednesday. RBI faces a difficult situation in the October 2026 policy due to a challenging macro environment, elevated crude oil prices, and rising treasury yields. Choosing between a rate hike or status quo will have a substantial impact on financial markets, including savings, borrowings, and, most importantly, inflation. The market is predicting RBI to follow in the footsteps of the US Federal Reserve and announce a 25 basis point hike, eventually ending its 11-month-long dovish stance.

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Oct 07, 2026, 8:14 am IST

Live Silver Rates Today; Spot Silver Falls 1%

Spot silver price dropped around 1% to struggle at $60.9 per ounce. As per Trading Economics, markets are pricing in nearly an 80% chance that the US Federal Reserve will keep rates unchanged this month following weaker-than-expected job growth in September and downward revisions to payrolls for the prior two months. Investors now await minutes from the Fed’s latest meeting for further clues on the monetary policy outlook.

Oct 07, 2026, 8:11 am IST

Live Gold Rates Today: Spot Gold Falls Near $4,145

Spot gold traded lower by 0.5% to struggle around $4,145 per ounce, hovering near 2-month low. As per Trading Economics, gold erased its previous gains as oil prices rebounded on persistent risks to Middle East supply, keeping inflationary risks and rate hike concerns in focus.