Archive · 11 Oct 2026
Gold Leads Precious Metals Recovery, Silver Outlook Remains Weaker
Gold and silver prices recovered near the end of the week after falling earlier.
Gold rose more strongly and has a somewhat better short-term outlook than silver.
Lower US bond yields and a softer dollar helped both metals.
A weaker rupee also supported prices in India.
But worries about inflation and possible US interest-rate increases could limit gains.
Events in the Middle East may also affect prices.
Traders are watching whether gold can rise above ₹1,52,600 and whether silver can move above ₹2,29,000.
If prices fall below important support levels, they could drop further.
MCX gold futures for December delivery rose 1.27% on Friday to ₹1,51,503 per 10 grams, recovering from an earlier weekly low.
Silver edged up 0.03% on Friday to ₹2,25,820 per kg, but its technical trend remains weaker than gold's.
A softer US dollar and easing Treasury yields supported the metals, while a weaker rupee added support to domestic prices.
Gold has a mildly positive near-term bias; silver is weak but showing signs of stabilisation, according to Ponmudi R.
Traders are watching US inflation data, Federal Reserve expectations, Middle East tensions, currency movements and key price levels.
- Who
- Gold and silver traders, with technical commentary from Ponmudi R, CEO of Enrich Money.
- What
- Gold and silver recovered late in the week, but gold's near-term technical outlook is stronger than silver's.
- When
- During the week ahead of Navratri; the reported prices are from Friday.
- Where
- On India's Multi Commodity Exchange (MCX), with global price drivers also discussed.
- Why
- Easing US Treasury yields and a softer dollar supported the recovery; inflation, possible Federal Reserve rate hikes, Middle East tensions and rupee movements remain important risks and drivers.
- MCX gold, Friday
- December futures rose ₹1,893 (1.27%) to ₹1,51,503 per 10 grams.
- Gold weekly low
- ₹1,47,916.
- Gold immediate resistance
- ₹1,52,000–₹1,52,600; a sustained move above ₹1,52,600 is needed to confirm stronger momentum.
- Gold immediate support
- ₹1,50,000–₹1,50,700.
- MCX silver, Friday
- Silver rose ₹65 (0.03%) to ₹2,25,820 per kg.
- Silver immediate resistance
- ₹2,28,000–₹2,29,000; a sustained close above ₹2,29,000 would signal a more meaningful recovery.
- Silver immediate support
- ₹2,23,000–₹2,24,000.
- Analyst's technical view
- Gold has a mildly positive bias; silver remains weak but is stabilising.