Gold prices snap 2-day rally; silver gains Rs 9,000/kg in 3 days as falling oil eases inflation bets. Key levels to watch

Gold prices snapped a two-day rally while silver gained about Rs 9,000/kg over three days as falling oil prices eased inflation bets. MCX gold futures for August 2026 delivery declined Rs 548 to Rs 1,44,194 per 10 grams, while silver futures rose 0.5% to Rs 2,31,653 per kg. Spot gold gained 0.7% to $4,057.92 per ounce and spot silver climbed 1.6% to $60.06 per ounce. Traders are pricing in around 64% probability of a September Fed rate hike and awaiting the US nonfarm payrolls report for policy direction.