Gold-Silver Prices Today: Gold and silver prices witnessed a sharp recovery in the Indian commodity market on Wednesday, November 4, 2026, after experiencing continuous declines over the previous few trading sessions. Gold prices increased by more than ₹3,000 per 10 grams, while silver recorded a significant jump of nearly ₹6,900 per kilogram on the Multi Commodity Exchange (MCX).
The sudden rally comes amid developments in the 2026 US midterm elections, where the Democratic Party secured major victories in both the Senate and the House of Representatives, weakening President Donald Trump’s Republican Party. A weaker US dollar and declining US bond yields also supported the rise in precious metal prices.
MCX Gold Price Today: Gold Rises by ₹3,088
Gold futures for December delivery on the Multi Commodity Exchange (MCX) recorded a strong recovery on Wednesday.
According to market data reported at 2:44 PM on November 4:
- Previous closing reference: Approximately ₹1,39,452 per 10 grams
- Price after the rise: ₹1,42,540 per 10 grams
- Price increase: ₹3,088
- Percentage gain: 2.21%
The sharp increase brought gold prices back above the ₹1.42 lakh level per 10 grams.
MCX Silver Price Today: Silver Jumps ₹6,902
Silver recorded an even stronger percentage gain than gold during Wednesday’s trading session.
MCX silver futures for December delivery reached ₹1,86,600 per kilogram, registering a significant increase.
- Previous closing reference: Approximately ₹1,79,698 per kg
- Price after the rise: ₹1,86,600 per kg
- Price increase: ₹6,902
- Percentage gain: 3.84%
The sudden increase brought silver prices closer to the ₹1.87 lakh level per kilogram.
Why Are Gold-Silver Prices Rising Today?
Several international developments contributed to the recovery in gold and silver prices.
1. US Midterm Election Results
The 2026 US midterm election results became an important factor influencing global financial markets. The Democratic Party’s victories in the Senate and House of Representatives weakened the Republican Party’s position under President Donald Trump. The resulting political and policy uncertainty encouraged investors to reassess their exposure to riskier assets and increased interest in precious metals.
2. Weakening US Dollar
A weaker US dollar was another major factor behind the rally. Gold and silver are internationally traded in US dollars. When the dollar weakens, these metals become relatively less expensive for buyers using other currencies, potentially supporting international demand.
3. Decline in US Bond Yields
US Treasury yields also softened, supporting the recovery in precious metals. Since gold does not generate interest income, lower bond yields can make it relatively more attractive compared with interest-bearing investments.
4. Safe-Haven Buying
Gold and silver are traditionally considered safe-haven assets during periods of economic and political uncertainty. As investors assessed the implications of the US election results and broader global developments, demand for precious metals received additional support.
Gold and Silver Prices in the International Market
The rally was not limited to India. International commodity markets also recorded strong gains.
According to the reported market figures:
| Precious Metal | International Price | Gain |
|---|---|---|
| Gold (COMEX) | $4,031.90 per ounce | 2.32% |
| Silver (COMEX) | $51.795 per ounce | 4.10% |
The international rally supported the positive sentiment in the domestic bullion market.
Gold and Silver Price Outlook: Important MCX Levels
Market participants are closely monitoring important support and resistance levels following Wednesday’s sharp recovery.
According to the technical levels mentioned in the market report:
Gold
- Support: ₹1,40,000
- Resistance: ₹1,43,000–₹1,43,700
Silver
- Support: ₹1,78,000–₹1,80,000
- Resistance: ₹1,86,000–₹1,88,000
These levels indicate areas that traders may monitor during upcoming sessions. Actual price movements will depend on international market developments, currency fluctuations, interest rate expectations and investor demand.
Will Gold and Silver Prices Continue to Rise?
The latest rally has improved sentiment in the precious metals market after several sessions of weakness. However, whether prices continue to rise will depend on how global financial markets react to the US election results and upcoming economic developments.
Investors will also monitor the US dollar, Treasury yields, inflation data and the Federal Reserve’s monetary policy outlook. A single day’s sharp increase does not necessarily indicate a sustained upward trend. Buyers and investors should check updated market prices before making purchasing or investment decisions.
Disclaimer: The prices mentioned in this report refer to MCX futures market levels reported on November 4, 2026, and are not guaranteed retail jewellery prices. Physical gold and silver rates may differ by city, purity, taxes, making charges and dealer margins. This article is for informational purposes and does not constitute investment advice.
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