Indian Gold and Silver Futures Hold Key Support Levels Amid Global Market Pressure

Gold and silver futures in India are holding their ground despite global market pressure triggered by strong US jobs data. The market is closely watching the potential for a Federal Reserve interest rate hike in September, which could impact the precious metals' prices.

The current price floors of ₹1,50,000 per 10 grams for October gold futures and ₹2,32,000 per kilogram for December silver futures are being closely watched by traders. These levels act as support zones, where historical buying interest has stopped declines in the past. If these metals can hold above their respective support zones, it may signal market stability.

However, if these levels break, prices could drop to ₹1,44,000 for gold or ₹2,25,000 for silver. The market is now focused on upcoming US inflation numbers, which will be crucial in deciding the next move for interest rates.