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Key Highlights
Gold down: MCX gold (December) traded at ₹1,49,184 per 10 grams, down ₹1,206 (0.8%), after slipping below ₹1,50,000.
Silver up: Silver (December) traded at ₹2,26,340 per kg, up ₹463 (0.2%).
Divergence: Silver has been outperforming gold in global markets too.
Key gold levels: Resistance at ₹1,51,000–1,51,600; support at ₹1,48,000–1,47,300.
Week ahead: The RBI's expected rate hike on Wednesday adds another factor for bullion.
Gold and silver moved in opposite directions on Monday. Gold fell as much as 1%, while silver edged higher, amid movements in the US dollar and continuing geopolitical uncertainty.
Today's MCX Prices
Metal
Last traded
Change
Intraday low
Intraday high
Gold (Dec), per 10 g
₹1,49,184
−₹1,206 (−0.8%)
₹1,48,850
₹1,51,197
Silver (Dec), per kg
₹2,26,340
+₹463 (+0.2%)
–
₹2,26,999
Gold opened at ₹1,51,197, its high for the day, before sliding below the ₹1,50,000 mark.
Compared with last Tuesday, when gold traded at ₹1,48,410 and silver at ₹2,25,338, both metals are slightly higher. Gold is up about ₹770 and silver about ₹1,000, suggesting prices have been stabilising after their sharp fall in late September, even as daily swings continue.
What the Charts Say
Gold: Analysts said the fall below ₹1,50,000 has turned that level into resistance. The Relative Strength Index (RSI) is at 43, in the weaker half of its range, and the MACD indicator is in negative territory, both pointing to a cautious outlook.
A sustained move above ₹1,50,000 is needed to stabilise, while a break below ₹1,48,000 could open the way to ₹1,46,000.
Silver: Silver is holding above its ₹2,24,000 support.
Silver
Levels
Resistance
₹2,27,000–2,28,000, then ₹2,31,000–2,32,000
Support
₹2,24,000, then ₹2,20,000
Why It Matters: Rates, Risk and the Festive Season
The week ahead brings an important test. The RBI is widely expected to raise its policy rate by 25 basis points on Wednesday. Higher interest rates generally make non-yielding assets like gold less attractive, which may add to the pressure on the yellow metal.
Geopolitics remains the other wildcard. US President Donald Trump said last week that Washington faced a choice between further military action against Iran and a deal with Tehran. Any escalation could revive safe-haven demand, while a deal could ease it.
For households, the timing matters too. With Dhanteras and Diwali in November, many buyers are watching prices closely. The recent stabilisation may offer a window, though analysts' cautious outlook suggests prices could stay volatile.
The Bottom Line
Gold is struggling to reclaim ₹1,50,000, while silver is quietly holding its ground. With an RBI decision and US-Iran developments ahead, bullion is likely to stay choppy this week.