Quote on gold 30th October 2026 by Ashish Rajodiya, Head of Commodities, PL Capital
Below the Quote on gold 30th October 2026 by Ashish Rajodiya, Head of Commodities, PL Capital
Gold and silver are under pressure after a hawkish Fed hold, with MCX gold at Rs1,41,882 per 10 grams, down Rs714, and MCX silver at Rs1,86,262 per kg, down Rs3,191 or 1.68%. Spot gold has slipped to $3,991 an ounce, down 0.70%, while spot silver has fallen 1.60% to $51.27, its weakest in at least eleven months, pushing the gold-silver ratio to around 78. The Fed kept rates at 3.75–4.00% in a 10–2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favour of a hike, while Chair Kevin Warsh said inflation remains elevated. Data since then has reinforced that stance. US growth came in at 3.4% against 3.2% expected, core PCE ran at 2.5% against 2.4%, and jobless claims fell to 194,000, lifting the odds of a December hike to about 83%. Treasury yields have eased, but strong data keeps the dollar supported and the metals on the defensive. The Fed’s December 8–9 meeting and the next inflation and jobs prints are the next tests. Softer data that fades hike bets could spark a recovery in both metals, while further hot readings would deepen the losses, with silver likely to fall faster than gold.
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