Gold, Silver Prices Soar Amid Peace Deal Optimism
Gold and silver prices surged on Friday in India's domestic market, supported by easing oil prices and optimism about the peace deal between the US and Iran. The MCX gold futures for October 2026 delivery rose by Rs 866 to Rs 1,49,724 per 10 grams, while the MCX silver futures for September 2026 delivery increased by Rs 2,864 to Rs 2,28,700 per kg.
The increases marked a three-day gain of Rs 11,016 (5.2%) and Rs 6,335 (4.4%), respectively. Manoj Kumar Jain of Prithvi Finmart said gold has support at $4,264-$4,220 per troy ounce and resistance at $4,340-$4,378, while silver has support at $60.60-$59.40 and resistance at $62.80-$64.00 per troy ounce in Friday's session.
Jain advised traders to book profits ahead of the US jobs data, citing his previous recommendation to buy gold above Rs 1,49,000. He also warned against fresh buying in silver during Friday's session.