Gold Dips 0.8% While Silver Gains Amid Geopolitical Uncertainty

Gold and silver prices moved in opposite directions on Monday, driven by shifts in the US dollar and geopolitical tensions. On the Multi Commodity Exchange, gold futures for December delivery dropped by 0.8%, falling to Rs 1,49,184 per 10 grams. The yellow metal hit an intraday low of Rs 1,48,850, a decline of 1.02%, before recovering slightly to Rs 1,51,197, its highest point of the day.

In contrast, silver futures for December rose by 0.2%, reaching Rs 226,340 per kg. The white metal earlier peaked at Rs 2,26,999, an increase of 0.49%. Analysts noted that gold's fall below Rs 150,000 has turned that level into a resistance zone, with immediate support seen at Rs 148,000-147,300 and further support at Rs 146,000-145,300. The technical outlook for gold remains cautious, with indicators suggesting a need for sustained gains above Rs 150,000 to stabilize the contract.

Silver, meanwhile, is outperforming gold and holding above the Rs 224,000 support zone. Analysts identify immediate resistance at Rs 227,000-228,000, with potential for further gains if prices break above Rs 228,000. A drop below Rs 224,000 could push silver toward Rs 220,000. The divergence in domestic prices reflects international trends, where silver has been stronger than gold.

Geopolitical developments continue to influence bullion markets, with recent comments from US President Donald Trump highlighting the uncertainty. Analysts caution that while silver shows resilience, gold's downside risks remain significant without a sustained recovery above key resistance levels.