Silver prices showed no signs of recovery as the white metal extended its losing streak in Friday’s trade, falling another ₹6,800 per kg to ₹1,92,800, its lowest level since December 2025.
MCX gold prices were also down marginally, declining 0.29%, while hovering around a nearly three-month low of ₹1.40 lakh per 10 grams. Precious metals have faced heavy selling pressure in October as the Middle East conflict showed no signs of easing, keeping the possibility of further US Federal Reserve rate hikes in focus.
The weakness has deepened October losses, putting both metals on track for a second consecutive monthly decline. Rising bond yields, driven by elevated crude oil prices, have emerged as a key challenge for precious metals, fueling concerns that the US Federal Reserve could tighten monetary policy further.
Last week’s US consumer and producer inflation data came in hotter than expected, largely as energy costs continued to climb. This has strengthened the case for tighter monetary policy, although Fed officials are still expected to hold rates steady at their October 27–28 meeting.
US inflation has remained stubbornly high, prompting the Federal Reserve to raise its short-term interest rate in September for the first time in three years.