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Commodity News Details
MCX Evening Update: Silver holds break above Rs 400000 per kg
29-Jan-2026 18:17
A massive spike in global Gold prices above $5500 per ounce has boosted MCX Gold too. COMEX Gold has jumped as US Federal Reserve Chair Jerome Powell said Wednesday that the central bank would consider reducing the policy rate after prices declined. Powell said during a news conference after the Fed's policy decision that he expects to see the effects of tariffs flowing through goods prices peaking and then starting to come down, assuming there are no new major tariff increases that are begun. Geopolitical worries also stayed in place and COMEX Gold is currently up 4% at $5552 per pound. MCX Gold futures for February zoomed 6.88% at Rs 177331 per 10 grams, witnessing good support around Rs 174000 mark. The benchmark April futures are up 8.16% at Rs 191600 per 10 grams. Silver is up 6.50% at Rs 410485 per kg as a frantic move extended above Rs 400000 per kg.

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