New Delhi– Gold and silver prices moved higher on Monday, supported by firm global cues and expectations that the U.S. Federal Reserve may reduce interest rates next month.
Around 10 a.m. on the Multi Commodity Exchange (MCX), the December 5, 2025 gold contract rose 1.16 per cent to Rs 1,22,468 per 10 grams, while the December 5, 2025 silver contract gained 1.99 per cent to Rs 1,50,666 per kg.
Gold had recently pulled back after touching record levels in October, but renewed demand has emerged amid concerns over the strength of the U.S. economy and increasing market speculation about an upcoming rate cut.
Rahul Kalantri, Vice President of Commodities at Mehta Equities, said that although prices were volatile through the week, they rebounded from lower levels following weak U.S. consumer sentiment data and uncertainty surrounding the ongoing U.S. government shutdown.
The prolonged shutdown has raised worries about the broader economic outlook, prompting investors to seek safe-haven assets such as gold and silver.
Internationally, bullion also traded higher. Gold gained 1.32 per cent to $4,062 per ounce on Comex, while silver rose 2.32 per cent to $49.26 per ounce.
Market analysts noted that a softer dollar index further supported precious metals. Gold is seen with support at $3,955–$3,920 and resistance at $4,040–$4,065. Silver has support at $47.80–$47.45 and resistance at $48.55–$48.85.
In rupee terms, gold has support at Rs 1,20,450–1,19,880 and resistance at Rs 1,21,790–1,22,400. Silver has support at Rs 1,46,850–1,45,900 and resistance at Rs 1,48,840–1,49,780.
Meanwhile, WTI crude oil regained momentum, trading above $60 per barrel as traders awaited new guidance from OPEC and the International Energy Agency. However, expectations of increasing global supply, including rising U.S. production and easing output limits from OPEC+, continue to temper sentiment. (Source: IANS)
