Gold Falls 1 Per Cent, Silver Gains Amid Geopolitical Risks

Gold and silver traded in opposite directions on Monday, with gold falling nearly 1 per cent while silver gained amid movements in the US dollar and continued geopolitical uncertainty.

On the Multi Commodity Exchange (MCX), December gold futures were trading at ₹1,49,184 per 10 grams around 10 am, down ₹1,206 or 0.8 per cent from the previous close.

Gold fell as much as 1.02 per cent, or ₹1,540, to an intraday low of ₹1,48,850. It had earlier touched a high of ₹1,51,197, gaining ₹807 or 0.53 per cent. The contract opened at ₹1,51,197.

Meanwhile, December silver futures moved higher, rising as much as 0.49 per cent, or ₹1,122, to an intraday high of ₹2,26,999. Silver was last trading at ₹2,26,340 per kg, up ₹463 or 0.2 per cent from the previous close. It opened at ₹2,25,900.

Commodity analysts said gold’s decline below ₹1.50 lakh has made the level an immediate resistance zone. Resistance is seen at ₹1,51,000-₹1,51,600, followed by ₹1,52,500-₹1,53,000, while support remains at ₹1,48,000-₹1,47,300 and then ₹1,46,000-₹1,45,300.

Analysts said the technical outlook for gold remains cautious, with the Relative Strength Index at 43 and the Moving Average Convergence Divergence indicator in negative territory. A sustained move above ₹1.50 lakh could stabilise the contract, while a break below ₹1,48,000 may expose it to ₹1,46,000.

Silver outperformed gold, holding above ₹2,24,000 support. A break above ₹2,28,000 could strengthen gains, while falling below ₹2,24,000 may drag prices towards ₹2,20,000. This trend mirrors global markets.

Geopolitical developments remain a key factor for precious metals. US President Donald Trump recently said Washington faced a choice between further military action against Iran and reaching a deal with Tehran.

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