Gold Drops 1 Percent While Silver Rises Amid Geopolitical Tensions
Gold and silver prices moved in opposite directions on Monday, reflecting geopolitical tensions and fluctuations in the US dollar. On the Multi Commodity Exchange, gold futures for December delivery dropped by 0.8 percent, trading at Rs 1,49,184 per 10 grams. The metal hit an intraday low of Rs 1,48,850, a decline of 1.02 percent, before recovering slightly to Rs 1,51,197.
In contrast, silver futures rose by 0.2 percent, settling at Rs 2,26,340 per kg. The white metal earlier reached an intraday high of Rs 2,26,999, up 0.49 percent from its opening price of Rs 2,25,900.
Analysts noted that gold’s fall below Rs 150,000 has turned that level into immediate resistance, with further resistance seen at Rs 151,000-151,600 and Rs 152,500-153,000. Support for gold is identified at Rs 148,000-147,300, followed by Rs 146,000-145,300. The technical outlook remains cautious, with the Relative Strength Index at 43 and the Moving Average Convergence Divergence indicator in negative territory.
Silver, meanwhile, is outperforming gold and holding above the Rs 224,000 support zone. Analysts see immediate resistance at Rs 227,000-228,000, followed by Rs 231,000-232,000. A sustained move above Rs 228,000 could strengthen silver’s recovery, while a break below Rs 224,000 could drag it towards Rs 220,000.
The divergence in domestic prices mirrors international markets, where silver has been outperforming gold. Geopolitical developments, particularly US President Donald Trump’s remarks about potential military action against Iran or reaching a deal with Tehran, remain a key factor influencing bullion markets.