India gold and silver jump after US Federal Reserve talk
Business
After months of slipping prices, gold and silver made a strong comeback in August 2026.
On India's MCX, gold jumped 7.75% to ₹154,456 per 10gm and silver climbed 8.46% to ₹240,250 per kilogram.
This rally was mainly sparked by talk of a US Fed rate hike and a weaker US dollar.
Comex metals surge, analysts set targets
The momentum wasn't just local. Global prices shot up too: Comex gold rose nearly 10%, while silver soared over 16%.
Both metals broke key resistance levels, hinting at more short-term gains.
Analysts say if support holds (₹148,000 for gold; ₹225,000 for silver), we could see gold aiming for ₹168,000 and silver heading toward ₹259,000 soon, even though the stronger rupee might slow things down a bit.