Gold rate today: Gold prices in the domestic futures market have been on a strong upward trend since their sharp decline around Diwali. The precious metal has gained nearly ₹9,000 from its recent low of ₹1,17,628 per 10 grams recorded on October 28.

On Diwali 2025, gold prices on the MCX soared past ₹1.30 lakh per 10 grams amid strong festive demand, while silver gained 1%, crossing ₹1.58 lakh.

However, both precious metals tumbled sharply the following day. On October 22, around 6 p.m., MCX gold futures (December 5) dropped ₹7,210, or 5.6%, to ₹1,21,061, and MCX silver futures (December 5) declined ₹5,493, or 3.7%, to ₹1,44,834, mirroring weakness in global markets.

On Thursday, MCX gold December contracts rose 0.37% to ₹1,26,935 per 10 grams, while MCX silver December futures climbed 1.70% to ₹1,64,854 per kg, at around 9:35 am.

Metal prices have been rallying on a weak US dollar after US lawmakers passed a temporary funding bill to end the federal shutdown.

As per the PTI report, US President Donald Trump signed a funding bill on Wednesday night (local time), ending a record-breaking 43-day government shutdown that began on October 1. The shutdown had left federal employees without pay, disrupted air travel with stranded passengers, and led to long queues at food banks.

“Bullion prices advanced sharply midweek, with gold and silver climbing to three-week highs and silver nearing its record in international trade. The ongoing strength in precious metals came despite expectations that the U.S. government would reopen within 24 hours. Traders anticipate that the resumption of U.S. economic data could reinforce prospects for a December Fed rate cut, providing additional momentum to the market,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.

What should be your gold trading strategy?

According to Kalantri, the near-term technical postures for gold and silver have turned more bullish recently, which is inviting the chart-based speculators to play the long sides of both markets.

“In INR gold has support at Rs1,25,750-1,24,980 while resistance at Rs1,27,750-1,28,400. Silver has support at Rs1,60,950-1,59,400 while resistance at Rs1,63,850-1,64,900,” he said.

Meanwhile, brokerage firm Emkay Wealth Management while, recommending investors who are already invested to hold on to the positions and add on dips, said, “The geopolitical issues that have persisted in Eastern Europe and in the Middle East for a long time now has led to the move into gold to a certain extent. The US Dollar has weakened against all currency majors to the tune of 8 % in the last one year. This weakening of the US Dollar has resulted in the prices of commodities to move up.

Gold prices touched US$ 4368 in the last up move in prices earlier in Oct 25, and later the prices moved down to a shade lower than US$ 4000 by end Oct 25. The recent slide in gold from the peak levels to US$ 4000 is occasioned by the slight appreciation in the US Dollar against major currencies to the tune of 1.40 % in the last one month.”

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.