Gold and Silver Prices Rise 2% on Positive Global Cues, Rate-Cut Hopes

New Delhi — Gold and silver prices climbed sharply on Monday, buoyed by optimistic global market cues and growing expectations that the US Federal Reserve could cut interest rates next month.

As of 10 a.m., on the Multi Commodity Exchange (MCX), the December 5, 2025 gold contract rose 1.16% to ?1,22,468 per 10 grams, while the December 5, 2025 silver contract jumped 1.99% to ?1,50,666 per kilogram.

After hitting record highs in October, gold prices had seen a correction, but renewed buying has emerged amid concerns over the US economy’s health and expectations of monetary easing by the Fed.

According to Rahul Kalantri, Vice President of Commodities at Mehta Equities, the market witnessed high volatility throughout the week but managed to rebound following weak US consumer sentiment data and uncertainty surrounding the ongoing US government shutdown, which has now stretched to a record duration.

“The extended shutdown has raised fears about the broader US economic outlook, reviving safe-haven demand for gold and silver,” Kalantri noted.

In international markets, both metals gained ground. Gold was up 1.32% at $4,062 per ounce on Comex, while silver advanced 2.32% to $49.26 per ounce.

Analysts said a softer US dollar index also lent support to bullion prices.

• Gold support levels: $3,955–$3,920; resistance: $4,040–$4,065

• Silver support levels: $47.80–$47.45; resistance: $48.55–$48.85

In Indian rupee terms:

• Gold support: ?1,20,450–?1,19,880; resistance: ?1,21,790–?1,22,400

• Silver support: ?1,46,850–?1,45,900; resistance: ?1,48,840–?1,49,780

Meanwhile, WTI crude oil also regained strength, rising above $60 per barrel as traders awaited fresh updates from OPEC and the International Energy Agency (IEA).

However, analysts cautioned that the broader oil outlook remains uncertain, as OPEC+ continues to ease production limits, US output rises, and concerns of an impending supply surplus weigh on market sentiment.

With inputs from IANS