Gold Price Today: Domestic bullion markets opened on a firm note today. On the Multi Commodity Exchange (MCX), gold was trading at ₹1,58,050 per 10 grams, down ₹705 from the previous close. Silver prices also declined, slipping ₹2,597 to ₹2,60,421 per kilogram, reflecting a weak trend in bullion markets.
Following firm trends in the domestic market, international bullion prices witnessed a mild pullback during early trade. On the COMEX, gold was quoted at $5,083.30 per troy ounce, down $15.20 or 0.30%, while silver slipped to $82.98 per troy ounce, declining $0.94 or 1.12%. The dip reflects cautious sentiment in global markets even as precious metals continue to hover near elevated levels.
GOLD PRICE TODAY: EXPERT OPINIONS
Manoj Kumar Jain, a senior financial market expert, said:
On Wednesday, precious metals ended higher in global trade. April gold futures climbed 1.34% to close at $5,098.50 per troy ounce, while March silver futures jumped 4.40% to settle at $83.92 per troy ounce.
The upward trend was mirrored in domestic markets as well. On the MCX, April gold futures advanced 1.24% to Rs 1,58,755 per 10 grams, and March silver futures surged 4.15% to Rs 2,63,018 per kilogram.
The rally came despite robust U.S. labour market data. January non-farm payrolls rose sharply by 1,30,000, significantly above the revised December figure of 48,000 and well ahead of expectations of 55,000, marking the strongest increase since December 2024. Meanwhile, the unemployment rate eased to 4.3%, which capped some of the upside in bullion prices.
However, heightened geopolitical tensions between the U.S. and Iran, along with firm physical demand from China and steady ETF inflows, continued to underpin gold and silver.
Manoj Kumar Jain View for Today (For Gold and Silver) 12/02/2026
According to Manoj Kumar Jain of Prithvi Finmart, both metals are witnessing elevated volatility. He believes silver is likely to maintain support near $70 per ounce, while gold may hold above $4,770 on a weekly closing basis. Prices are expected to remain choppy amid fluctuations in the dollar index, upcoming U.S. inflation data, and ongoing geopolitical risks.
For the current session, gold has immediate support in the $5,055–$5,000 range and resistance between $5,122 and $5,170 per ounce. Silver is supported at $80.00–$76.60, with resistance seen at $88.00–$90.20.
On MCX, gold is expected to find buying interest between Rs 1,57,500 and Rs 1,56,000, while resistance is placed at Rs 1,60,000–Rs 1,62,400. Silver has support at Rs 2,58,000–Rs 2,51,800 and resistance at Rs 2,71,000–Rs 2,80,000. Investors are advised to consider buying on dips as long as gold holds above Rs 1,55,500 and silver above Rs 2,50,000 on a closing basis. In the near term, gold may test Rs 1,62,500, while silver could move towards Rs 2,80,000.
Kedia Commodity View
Gold:
Kedia Commodity notes that fresh long positions are emerging in gold, as indicated by a 0.26% increase in open interest. The metal is likely to find initial buying support near ₹1,57,420, with a stronger base around ₹1,56,085 if weakness persists. On the higher side, ₹1,60,170 acts as an immediate barrier. A sustained breakout above this level may trigger further upside momentum toward ₹1,61,585.
Silver:
In silver, the recent price rise is largely attributed to short covering, reflected in a 0.78% drop in open interest. The first support is placed at ₹2,57,515, while deeper support is seen near ₹2,52,010. Resistance stands at ₹2,68,950, and a consistent move beyond this mark could open the door for an advance toward ₹2,74,880.
Gold Price Today, FAQ’s
- What is the latest gold and silver price on MCX?
On the Multi Commodity Exchange (MCX), gold is trading at ₹1,58,050 per 10 grams, down ₹705 from the previous close. Silver is priced at ₹2,60,421 per kilogram, registering a decline of ₹2,597, indicating mild weakness in domestic bullion markets. - How are international bullion prices performing?
On the COMEX, gold is quoted at $5,083.30 per troy ounce, down 0.30%, while silver is trading at $82.98 per ounce, lower by 1.12%. The decline reflects cautious global sentiment, though prices remain near elevated levels. - What key factors are influencing gold and silver prices right now?
Bullion prices are being impacted by strong U.S. non-farm payroll data, fluctuations in the dollar index, and upcoming U.S. inflation figures. At the same time, geopolitical tensions, especially between the U.S. and Iran, along with ETF inflows and demand from China, are offering support. - What are the important support and resistance levels for gold and silver?
For MCX gold, immediate support is seen around ₹1,57,500–₹1,56,000, with resistance at ₹1,60,000–₹1,62,400. Silver has support near ₹2,58,000–₹2,51,800 and resistance in the ₹2,71,000–₹2,80,000 range, according to analysts. - What is the short-term outlook for gold and silver?
Experts suggest prices may remain volatile due to global economic cues and geopolitical developments. Investors are advised to consider buying on dips if gold holds above ₹1,55,500 and silver sustains above ₹2,50,000 on a closing basis, with potential upside targets ahead.
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