Gold and Silver Prices Show Signs of Recovery Amid Market Fluctuations

Gold and silver prices have shown signs of recovery following a recent sell-off, with gold trading near a three-month low. Analysts provide insights into market dynamics, including support and resistance levels for both metals. As gold futures rise on the MCX, silver also experiences fluctuations. This article delves into the current market conditions and expert predictions, making it essential reading for investors and market enthusiasts.

By Narendra Chaudhary Oct 26, 2026, 14:23 IST

Market Update on Precious Metals

New Delhi, Oct 26: On Monday, gold and silver prices experienced a rebound due to low-level buying after a significant sell-off, although gold remains close to a three-month low.

Gold futures for December on the Multi Commodity Exchange (MCX) opened at Rs 1,42,301 per 10 grams, marking an increase of Rs 277 from the previous close of Rs 1,42,024.

The price of gold rose by as much as 0.6 percent, or Rs 864, reaching an intraday peak of Rs 1,42,888 at 11:50 am. Currently, it is trading at Rs 1,42,500, reflecting an increase of Rs 476 or 0.34 percent.

In contrast, silver futures for December opened at Rs 1,96,257 per kg, up Rs 538 from the last close of Rs 1,95,719.

The price of silver peaked at Rs 1,97,186, up 0.74 percent or Rs 1,467. As of the latest update, it is trading at Rs 1,95,572, down Rs 147 or 0.08 percent.

Market analysts noted, "MCX gold is currently fluctuating between support and resistance levels following last week's decline. The December contract fell nearly 4 percent last week, closing around Rs 1.42 lakh."

They further explained, "MCX gold is gaining about half as much as COMEX gold and is lagging behind MCX silver, which is experiencing a sharper oversold bounce. Immediate resistance is identified in the Rs 1,43,000-1,43,700 range, followed by Rs 1,45,300-1,46,000, while immediate support is at Rs 1,40,000-1,41,000. The RSI near 33 indicates it is close to oversold territory, and the MACD's negative histogram is widening."

There remains a cautious outlook, with a recovery above Rs 1,43,000-1,43,700 necessary for stabilization.

For MCX silver, immediate resistance is seen in the Rs 2,00,000-2,02,000 range, followed by Rs 2,06,000-2,08,000.

"Support levels are at Rs 1,92,000-1,94,000, with further support at Rs 1,83,000-1,85,000. The long lower shadow observed near Rs 1,92,000 on Friday suggests an effort to establish a base. The RSI near 25 indicates deep oversold conditions, while the MACD remains below its signal line, suggesting that bearish momentum persists," the analysts added.

In the international market, COMEX gold futures opened at $1,012.20 per ounce, compared to the previous close of $1,007.90, having reached $1,586.20 earlier this year.

Meanwhile, COMEX silver opened at $14.29 against the last close of $14.94, having hit a high of $17.79 earlier this year.