Gold and silver prices edged higher on Friday morning on the Multi Commodity Exchange (MCX), supported by positive global trends and a decline in the US dollar against major currencies.
At 9:15 am, MCX Gold December futures were up 0.27% at ₹1,20,939 per 10 grams, while MCX Silver December futures rose 0.60% to ₹1,47,938 per kilogram.
Internationally, gold prices gained as private-sector job data increased expectations of another US Federal Reserve rate cut in December. 
The ongoing US government shutdown, now the longest in the country&rsquo;s history since it began on October 1, further boosted demand for safe-haven assets.
The dollar index also slipped below the 100 mark, making gold cheaper for holders of other currencies and improving demand.
&ldquo;Gold and silver are facing steep resistance at higher levels, but are also holding their key support levels. The dollar index has slipped from three-month highs, and uncertainty on the ending of the US shutdown could support safe-haven buying for precious metals. Geopolitical tensions are also supporting precious metal prices,&rdquo; said Manoj Kumar Jain of Prithvifinmart Commodity Research.
Jain noted that gold is maintaining its crucial level of $3,870, while silver is holding support at $46.50 per troy ounce. 
He expects gold and silver prices to remain volatile amid fluctuations in the dollar index, global markets, and uncertainty around the US shutdown.
&ldquo;Gold is expected to trade in the range of $3,922 and $4,054 per troy ounce and silver is expected to trade in the range of $47 and $48.84 per troy ounce in today&rsquo;s session,&rdquo; he added.
According to Jain, gold has support at $3,960 and $3,922, with resistance at $4,028 and $4,054 per troy ounce. 
Silver&rsquo;s support levels are at $47.50 and $47, with resistance at $48.40 and $48.84.
On the MCX, Jain said gold has support at ₹1,20,000 and ₹1,19,400, and resistance at ₹1,21,200 and ₹1,21,850. 
Silver has support at ₹1,46,100 and ₹1,45,000, and resistance at ₹1,48,200 and ₹1,49,400.
&ldquo;We expect range-bound trade in gold and silver, and if gold prices are able to give a breakout above ₹1,21,750 on a closing basis and silver prices are able to give a breakout above ₹1,50,000 on a closing basis, we could start a fresh upside rally in the upcoming sessions,&rdquo; Jain said.
Rahul Kalantri, VP of commodities at Mehta Equities, also noted similar trends. 
He said gold has support at $3,930 and $3,900, while resistance lies at $4,025 and $4,055. 
Silver has support at $47.50 and $47.15, and resistance at $48.35 and $48.70.
In Indian rupee terms, Kalantri said gold has support at ₹1,19,870 and ₹1,19,280, with resistance at ₹1,21,090 and ₹1,21,600. 
Silver&rsquo;s support levels are at ₹1,46,450 and ₹1,45,750, and resistance at ₹1,48,340 and ₹1,49,280.

Gold bars and silver coins reflecting market rise

Gold and silver prices rise on MCX as global cues, dollar weakness boost sentiment

Gold Up, Silver Gains On Safe-Haven Demand

Gold and silver prices rise on MCX as global cues, dollar weakness boost sentiment

November 7, 2025 | 16:12 IST