# Festive Buying Lifts Gold and Silver as Futures Rebound on the Multi Commodity Exchange > Ahead of Dhanteras and Diwali, gold and silver prices rebounded in domestic futures and international markets following sharp declines from their peak levels. **Type:** article · **Category:** Business · **Published:** 2026-11-02 · **Source:** TrendKia **Canonical:** https://trendkia.com/en/business/tyohari-manga-ke-bicha-gold-aura-silver-men-lauti-chamaka-multi-commodity-exchange-para-vayada-bhava-charhe-54821 · **Language:** English **Tags:** Gold Price, Silver Price, MCX, Dhanteras, Bullion Market, Federal Reserve Precious metals staged a recovery across domestic and international markets following several sessions of intense selling pressure. Ahead of peak festive purchases for Dhanteras and Diwali, bullion prices began rebounding. On Monday, November 1, gold climbed by 495 rupees on the Multi Commodity Exchange. This turnaround comes after gold had tumbled 42 percent from its all-time record peak, while silver prices had plummeted 55 percent from their historic highs. ## Domestic Futures Performance on MCX Trading on the Multi Commodity Exchange, or MCX, reflected firm sentiment right from the opening bell on November 1. Trading commenced at the 1.39 lakh rupee mark, pushing gold prices close to 1.39 lakh rupees per 10 grams. Over the course of the session, gold futures registered a gain of 500 rupees per 10 grams. Silver futures followed a similar upward trajectory, displaying substantial momentum. On the MCX, silver surged by 3,386 rupees to touch 1,82,455 rupees per kilogram. After enduring persistent downward pressure in recent sessions, this sharp upward swing marks a noticeable revival in domestic sentiment as festive demand begins to take hold. ## Global Market Action Across Precious Metals The price rebound on domestic bourses mirrored strength across overseas commodity desks. Spot gold advanced 0.7 percent to 3,900.90 dollars per ounce, recovering after sliding to a one-year low in the prior trading session. In the United States, gold futures for December delivery picked up 0.3 percent to settle at 3,909.70 dollars per ounce. The metal had faced intense pressure on the preceding Friday, dropping 3.5 percent due to margin calls to hit its weakest level since October 2025. Spot silver rallied 1.8 percent to trade at 49.97 dollars per ounce. Performance across other precious metals remained mixed, with platinum edging up 0.1 percent to 1,432.63 dollars per ounce, while palladium held steady at 976.31 dollars per ounce. ## Underlying Drivers and Outlook Kyle Rodda, senior financial market analyst at Capital.com, noted that crude oil prices fell by more than 3 percent, which provided immediate support to gold and silver prices. The bullion complex has benefited from festive demand alongside softer crude and a retreating dollar. Nonetheless, analysts caution that the current rebound may prove transient. According to the CME FedWatch Tool, traders are pricing in a 73 percent probability of a Federal Reserve interest rate hike in December. If US monetary authorities proceed with higher borrowing costs, precious metals could encounter renewed downward pressure. ## What this means for you Pre-festive retail buyers and bullion traders must navigate a sudden bounce in metal prices ahead of major celebrations. - **For Retail Jewelry Buyers:** Immediate jewelry acquisition costs have risen right before Dhanteras and Diwali due to the fresh rebound. While prices remain substantially below all-time highs, shoppers should closely verify intraday rates before making large purchases. - **For Commodity Futures Traders:** The sudden upward swing on MCX has heightened volatility for short positions. Market participants should maintain strict stop-loss levels given the fast-evolving expectations around central bank decisions. - **For Retail Investors:** Entry valuations remain relatively discounted given that gold and silver are still sharply below their historical peaks. Phased accumulation rather than lump-sum deployment may help mitigate near-term swings. - **For Industrial Fabricators:** Silver surging by 3,386 rupees per kilogram increases component and raw material costs for manufacturing units. Procuring businesses will need to adjust their input price calculations accordingly. ## Why this happened A convergence of pre-festive retail interest, a sharp decline in crude oil, and technical short covering lifted precious metals from recent bottoms. However, monetary policy expectations continue to cap broad upside momentum. - **Festive Inflows and Soft Crude:** Ahead of Dhanteras and Diwali, physical demand in major retail centers expanded rapidly. Concurrently, a drop of over 3 percent in crude oil provided relief to bullion pricing globally. - **Technical Rebound Post Margin Squeeze:** Bullion had plunged 3.5 percent on Friday amid forced liquidation from margin calls, touching its lowest point since October 2025. Once the selling exhausted, bargain hunting and short-covering prompted an immediate recovery. - **Federal Reserve Policy Pressures:** CME FedWatch Tool indicators reflect a 73 percent chance that the Federal Reserve will raise interest rates in December. This strong likelihood of tighter policy continues to place a structural ceiling on long-term bullion advances. ## Questions & Answers ### 1. How much did gold gain on the MCX on November 1? Gold futures rose by 500 rupees per 10 grams on the Multi Commodity Exchange, hovering near 1.39 lakh rupees. ### 2. What was the latest silver price recorded on MCX? Silver gained 3,386 rupees on the MCX to reach 1,82,455 rupees per kilogram. ### 3. What were the spot prices of gold and silver in the international market? Spot gold climbed 0.7 percent to 3,900.90 dollars per ounce, while spot silver rose 1.8 percent to 49.97 dollars per ounce. ### 4. What potential headwind do analysts see for gold prices ahead? The CME FedWatch Tool indicates a 73 percent chance of a Federal Reserve rate hike in December, which could renew downward pressure on bullion. --- _TrendKia — Har trend, sabse pehle.. Machine-readable view; canonical HTML at the URL above._