Gold, silver futures gain up 1%; can this recovery sustain? Analyst view

Gold and silver futures rose up to 1 per cent in Friday's trade after facing pressure in recent sessions, with analysts saying weakness in the dollar index and steady bond yields are key to any sustained recovery. As of 9:30 AM, MCX gold futures were trading at ₹1,48,274 per 10 grams, up 0.53%. Silver futures gained 1.09% to ₹2,12,956 per kilogram. In the international market, gold futures were trading at around $4,204 per ounce, while silver was near $58 per ounce.

According to Anuj Gupta, Independent Research Analyst, movements in the US dollar and bond yields remain important factors for precious metals. Gupta said, "The Dollar Index slipping below 102 and relatively steady US bond yields are among the key factors to watch. Recent US PPI and retail sales data have offered limited fresh direction."

Gold Price Outlook: Key Support and Resistance Levels

In the international market, gold has support at $4,107 per ounce, while resistance is placed at $4,210 per ounce. On the domestic MCX, the immediate support level is ₹1,46,500 per 10 grams. On the upside, ₹1,49,000 and ₹1,50,000 per 10 grams are key resistance levels.

A sustained move above these resistance levels could indicate improving momentum, while failure to hold support may put prices under renewed pressure.

Silver price outlook: Levels to watch

International silver has support at $56 and $54 per ounce. On MCX, ₹2,05,000 per kilogram is the key support level, while ₹2,15,000 per kilogram is the immediate resistance. A sustained move above ₹2,15,000 could support further recovery in domestic silver prices. However, traders will need to watch whether the metal can hold on to its gains.

With the dollar, US bond yields and upcoming economic cues influencing sentiment, gold and silver could remain sensitive to global developments. Buyers and traders will be watching these levels closely before assessing the next move.