Gold nears Rs 1.46 lakh per 10 grams, silver approaches Rs 1.90 lakh per kg; what's Next?
Gold and silver are witnessing positive momentum, with a possible trend reversal taking shape. Easing bond yields, a weaker dollar index, an appreciating rupee and softer crude oil prices are supporting the recovery.
- Nov 5, 2026,
- Updated Nov 5, 2026 2:48 PM IST
Gold and silver prices staged a strong recovery on November 5, 2026, bouncing back after a sharp sell-off in the previous sessions. Both precious metals gained nearly 2% in international markets, while domestic futures also witnessed significant buying interest.
In the international market, gold climbed 1.80% to $4,146 per ounce, while silver advanced 1.66% to $53 per ounce.
On the Multi Commodity Exchange (MCX), gold futures were trading at ₹1,45,519 per 10 grams, gaining ₹2,295, or 1.60%. Silver futures rose ₹2,570, or 1.37%, to ₹1,90,298 per kilogram.
Why are gold and silver prices rising?
According to Anuj Gupta, Independent Research Analyst, precious metals are witnessing renewed positive momentum, with the possibility of a trend reversal.
"Gold and silver are witnessing positive momentum, with a possible trend reversal taking shape. Easing bond yields, a weaker dollar index, an appreciating rupee and softer crude oil prices are supporting the recovery. Changing market sentiment following the US election results is also emerging as a supportive factor," Gupta said.
The combination of a weaker dollar and easing bond yields has improved the investment appeal of non-yielding assets such as gold and silver. Softer crude oil prices have also contributed to the improving market sentiment.
Gold and silver price outlook: Key levels to watch
Gupta sees $4,070 as the immediate support for international gold, while $4,170 is the resistance. On MCX, gold has support at ₹1,42,500 and resistance at ₹1,45,000. A sustained breakout above this level could take prices towards ₹1,48,000.
For international silver, $50 is the key support and $55 is the resistance. On MCX, support stands at ₹1,80,000, while ₹1,92,000 is the immediate resistance. A sustained breakout could push silver towards ₹1,97,000–₹2,00,000.
After the recent correction, the recovery has brought buyers back into the precious metals market. However, investors should watch these resistance levels closely before assuming that a sustained rally is underway.
Gold and silver prices staged a strong recovery on November 5, 2026, bouncing back after a sharp sell-off in the previous sessions. Both precious metals gained nearly 2% in international markets, while domestic futures also witnessed significant buying interest.
In the international market, gold climbed 1.80% to $4,146 per ounce, while silver advanced 1.66% to $53 per ounce.
On the Multi Commodity Exchange (MCX), gold futures were trading at ₹1,45,519 per 10 grams, gaining ₹2,295, or 1.60%. Silver futures rose ₹2,570, or 1.37%, to ₹1,90,298 per kilogram.
Why are gold and silver prices rising?
According to Anuj Gupta, Independent Research Analyst, precious metals are witnessing renewed positive momentum, with the possibility of a trend reversal.
"Gold and silver are witnessing positive momentum, with a possible trend reversal taking shape. Easing bond yields, a weaker dollar index, an appreciating rupee and softer crude oil prices are supporting the recovery. Changing market sentiment following the US election results is also emerging as a supportive factor," Gupta said.
The combination of a weaker dollar and easing bond yields has improved the investment appeal of non-yielding assets such as gold and silver. Softer crude oil prices have also contributed to the improving market sentiment.
Gold and silver price outlook: Key levels to watch
Gupta sees $4,070 as the immediate support for international gold, while $4,170 is the resistance. On MCX, gold has support at ₹1,42,500 and resistance at ₹1,45,000. A sustained breakout above this level could take prices towards ₹1,48,000.
For international silver, $50 is the key support and $55 is the resistance. On MCX, support stands at ₹1,80,000, while ₹1,92,000 is the immediate resistance. A sustained breakout could push silver towards ₹1,97,000–₹2,00,000.
After the recent correction, the recovery has brought buyers back into the precious metals market. However, investors should watch these resistance levels closely before assuming that a sustained rally is underway.