MCX gold, silver fall in Muhurat trading as investors book profit
This story was originally published at 15:25 IST on 21 October 2025
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MUMBAI – After rising over 60% in the Hindu year Samvat 2081, prices of gold and silver fell on the Multi Commodity Exchange in Tuesday's Muhurat trading as investors booked profits, analysts said. Gold and silver prices were also fell on the COMEX due to a firm dollar index, which also impacted MCX prices.
Traditionally, trading during the 'Muhurat' session is believed to bring prosperity and financial growth to investors. This new session Tuesday marks the beginning of Vikram Samvat 2082, the Hindu New Year that begins on Diwali.
The most-active October GOLD contract on the MCX closed around INR 128,000 per 10 grams, down over 2% from the previous close, and the SILVER December contract ended over 5% lower than the previous close around INR 150,000 per kilogram. At 1449 IST, the most-active December gold contract on the COMEX was down nearly 2% at $4,274.8 per ounce and the same-month silver contract was down over 5% at $48.63 per ounce.
"Gold and silver dropped as US dollar strengthened to its highest level in nearly a week, buoyed by easing concerns over US-China tensions, optimism surrounding a resolution to the government shutdown, and improved sentiment on US credit conditions," Kedia Stocks and Commodities Research Pvt. Ltd. said in a note. US President Donald Trump expressed confidence in reaching a fair trade agreement with Chinese President Xi Jinping during their upcoming meeting in South Korea. Meanwhile, White House economic advisor Kevin Hassett has said the shutdown may end within a week, the brokerage said.
At 1457 IST, the dollar index, which measures the strength of the greenback against a basket of six currencies, was up nearly 0.3% at 98.86. A strong dollar makes commodities priced in the currency, such as gold and silver, less appealing for holders of other currencies, denting their demand.
Domestic gold prices have risen over 62% since Diwali 2024 to INR 128,000 per 10 gm of 24-carat gold. Silver prices have risen over 52% to INR 150,000 per kg. End
US$1 = INR 87.92
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by J. Navya Sruthi
Edited by Akul Nishant Akhoury
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