Gold ($4,199/ounce) was down 0.4 per cent whereas silver ($58.40/ounce) gained 3.5 per cent. In the domestic market, gold futures (₹1,30,462/10 gm) and silver futures (₹1,83,408/kg) rose 0.7 per cent and 4.8 per cent respectively.
MCX-Gold (₹1,30,462)
Gold futures (February) was trading in the narrow range of ₹1,29,200-1,31,400 over the last week. Going ahead, the consolidation might continue, or the contract might see a minor decline, possibly to ₹1,27,000, its 21-day moving average.
That said, the broader trend remains intact and gold futures is expected to eventually rally to ₹1,34,000. A rise above this can lift the contract to ₹1,35,000.
If gold futures falls from the current level, it can find support at ₹1,27,000 and ₹1,23,300. Note that the trend will remain positive until ₹1,20,000 holds.
Trade strategy: Retain the buy on gold futures (February) initiated at ₹1,29,500. Add long if the price dips to ₹1,26,000. Stop-loss can be ₹1,23,300. When the contract rises to ₹1,32,000, revise the stop-loss to ₹1,30,500. Book profits at ₹1,34,000.
MCX-Silver (₹1,83,408)
Silver futures (March) posted a gain of 4.8 per cent. But this was largely due to the gap-up opening and rally on Monday. Otherwise, throughout last week, the contract was trading sideways between ₹1,77,000 and ₹1,84,500.
But the trend remains positive and we expect silver futures to rally to ₹1,92,500 soon. In case silver futures declines, it can find support at ₹1,75,000. Subsequent support is at ₹1,65,000, its 21-day moving average. Until this level holds, the contract will retain a bullish inclination.
Trade strategy: Go long on silver futures (March) at ₹1,80,000 and ₹1,70,000. Keep a stop-loss at ₹1,65,000. When the contract rises to ₹1,86,000, tighten the stop-loss to ₹1,78,000. Book profits at ₹1,92,500.
Published on December 6, 2025
