Gold Silver Price Today, August 18, 2026: Gold and silver futures came under selling pressure in Tuesday's session as rising crude oil prices, higher bond yields and profit-booking weighed on precious metals. The sharp movement in energy prices has also renewed concerns about inflation and the possibility of tighter monetary policy by major central banks.

On India's Multi Commodity Exchange (MCX), both gold and silver were trading lower during the morning session. Meanwhile, crude oil futures moved higher amid continuing geopolitical uncertainty involving the United States and Iran.

Commodity market participants are now closely watching movements in crude oil, the US dollar, bond yields and geopolitical developments for further direction.

Gold and Silver Futures Trade Lower on MCX

At around 10:15 AM on August 18, MCX gold October futures were trading near ₹1,55,139, down ₹786 or approximately 0.51%.

Silver witnessed a sharper decline. MCX silver September futures were around ₹2,35,540, falling ₹2,451 or roughly 1.05%.

The decline came as traders booked profits after recent moves in precious metals and assessed the possible impact of higher energy prices on global inflation.

When crude oil becomes significantly more expensive, it can increase inflationary pressure across economies. Persistent inflation can influence central banks' interest-rate decisions, which in turn can affect demand for non-yielding assets such as gold and silver.

Crude Oil Near $91 Amid US-Iran Tensions

One of the biggest factors influencing commodities is the renewed strength in crude oil.

International crude prices were trading around $91 per barrel amid heightened tensions between the United States and Iran. Developments surrounding the two countries have increased uncertainty over energy supplies and conditions around strategically important shipping routes.

The geopolitical situation remains fluid, making crude oil prices particularly sensitive to fresh statements and developments.

Higher crude prices can have a wider impact on commodities because expensive energy can raise transportation and production costs while also affecting inflation expectations.

Bond Yields and Dollar Also in Focus

Apart from crude oil, traders are closely tracking US bond yields and the dollar.

Bond yields moved back above the 4.7% level, adding pressure on precious metals. Higher bond yields can make interest-bearing assets relatively more attractive compared with gold, which does not generate regular interest income.

Meanwhile, the US Dollar Index was around 99.58, after declining approximately 0.20% over the preceding 24 hours.

Gold often reacts to changes in the dollar because the precious metal is internationally priced in the US currency. However, the relationship can vary depending on inflation expectations, geopolitical risk and interest-rate outlook.

Key International Levels for Gold

Commodity analyst Manoj Kumar Jain of Prithvi Finmart Commodity Research identified important technical levels for gold and silver during the session.

For international gold, support was seen around $4,440 and $4,400 per ounce. On the upside, resistance was placed near $4,500 and $4,555 per ounce.

A sustained move above resistance could improve momentum, while a decline below important support levels could increase selling pressure.

Silver Support and Resistance Levels

Silver was showing greater volatility than gold during the morning session.

According to the analyst, international silver had support around $65 and $63.60 per ounce, while resistance was seen near $67 and $68.80 per ounce.

Silver prices can be influenced by both investment demand and industrial consumption, making the metal sensitive to changes in global economic expectations as well as broader precious-metal trends.

MCX Gold: Important Levels to Watch

In the domestic market, MCX gold was seen finding immediate support around ₹1,55,000, followed by another important level near ₹1,54,100.

On the upside, resistance was identified at approximately ₹1,56,800, followed by ₹1,57,700.

For MCX silver, support was indicated around ₹2,36,000 and ₹2,33,300, while resistance was placed near ₹2,40,000 and ₹2,42,400.

These technical levels are market observations rather than guaranteed price targets.

Crude Oil Rises While Copper Slips

Other commodities were also witnessing mixed movement.

MCX copper August futures were trading near ₹1,379.20, down approximately ₹4.05 or 0.29%.

In contrast, MCX crude oil September futures were around ₹8,094, gaining approximately ₹74 or 0.92%.

Natural gas August futures were also marginally higher at around ₹258.90, up roughly 0.39%.

The mixed performance highlights how different commodities are responding to separate factors, including geopolitical risks, energy demand, currency movement and broader economic expectations.

What Could Drive Gold and Silver Prices Next?

The near-term direction of gold and silver may depend heavily on global developments.

Crude oil prices will remain an important trigger. A further spike in oil could strengthen inflation concerns and influence expectations about interest rates. At the same time, any escalation in geopolitical tensions could increase safe-haven demand for gold.

Traders will also be watching the US Dollar Index and government bond yields. Higher yields could continue to pressure precious metals, while a weaker dollar or renewed risk aversion could provide support.

Gold and silver are highly volatile commodities, and prices can change sharply within a single trading session. Investors should therefore consider their risk tolerance and avoid making decisions solely on short-term price predictions.

Disclaimer: Commodity-market investments involve significant price risk. Support, resistance, targets and trading strategies mentioned above represent an analyst's market view and do not guarantee returns. Investors and traders should conduct their own research and consult a qualified financial adviser before making investment decisions.