Gold Rates And Silver Prices Fall On Dhanteras As Markets Price In 71% Chance Of A US Fed Rate Hike In December

Gold and silver prices fell sharply on the Multi Commodity Exchange (MCX) on Friday, 6 November 2026, as higher crude oil prices revived inflation concerns and strengthened bets on another US Federal Reserve rate hike.

MCX silver futures for 4 December 2026, delivery fell ₹3,645, or 1.95%, to ₹1,83,495 per kg. Gold futures for the same expiry declined ₹2,273, or 1.58%, to ₹1,41,822 per 10 grams, as of 12:02 pm IST on 6 November 2026.

What Is Driving The Fall In Gold Rates And Silver Prices?

Crude oil’s sharp rise after fresh attacks has brought inflation concerns back into focus. The development has also strengthened expectations of higher US interest rates. Two Federal Reserve officials called for modest and steady rate increases on Thursday to bring inflation closer to the central bank’s target, according to sources.

Traders are now pricing in a 71% probability of a Fed rate hike in December. Higher interest rates tend to weigh on gold, as the metal does not offer interest income and becomes less attractive when yields rise. The US non-farm payrolls report, due later on Friday, is expected to provide further clues on the Fed’s policy direction.

International prices were also lower. Spot gold slipped 0.4% to $4,040 per ounce, while spot silver fell 1.5% to $51.42 per ounce.

For those tracking domestic gold rates, physical prices in four major cities in India were as follows:

What Are The Key MCX Gold Rate And Silver Rate Levels To Watch?

The international gold support is at $4,064–$4,022 per troy ounce, with resistance at $4,140–$4,174. For silver, support is placed at $51.20–$50.00 per troy ounce, while resistance stands at $53.50–$54.40.

On the domestic exchange, gold has support at ₹1,42,800–₹1,41,400 and resistance at ₹1,45,100–₹1,46,500. Silver’s support range is ₹1,85,000–₹1,81,800, while resistance is seen at ₹1,89,100–₹1,91,400.

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