Published: October 10, 2025 10:47 AM IST 
Gold And Silver Price Today: Ahead of Dhanteras and Diwali, the prices of gold and silver, two of the costliest metals, witnessed a drop on the MCX on Friday. The reason for the sudden drop is mainly profit booking at higher levels as the geopolitical tensions are easing and a decline in demand at historically high levels. Both the glittery metals are witnessing profit booking after the announcement of the ceasefire between Israel and Hamas.
Israel on Friday (local time) showed a green light to the first phase of a US backed ceasefire agreement and hostage release plan. This decision sets the stage for a potential halt in hostilities in Gaza within the next 24 hours.
However, a decrease in the value of the US dollar helped to mitigate the losses for the yellow metal.
MCX Gold December futures at 10 am witnessed a dip of 0.08 percent at Rs 1,20,401 per 10 gram during the trading. One the other hand MCX Silver December futures traded 0.56 per cent down at Rs 1,45,500 per kg. Notably, the US dollar index also witnessed a decline of over 0.20 per cent during the session. The decline in dollar makes the yellow metal cheap in overseas currencies.
It is worth mentioning that Gold is always priced in US dollars, hence the weakening of dollar makes the yellow metal more cheaper across the world, thereby increasing its demand.
In the previous session, MCX Gold reported a record high of Rs 1,23,677 per 10 grams, silver touched fresh high of Rs 1,53,388 per kg.
Gold prices have witnessed a notable increase amid political uncertainties in the United States and the major expectation of Fed rate cut. A report by Reuters stated that CME FedWatch Tool indicates that traders, who deal in gold and silver, are expecting a 25-basis-point interest rate reduction in October. This was followed by another cut in December, with probabilities of 95 percent and 82 percent.
According to Darshan Desai, CEO of Aspect Bullion & Refinery, “Gold prices continued to slip as easing tensions in the Middle East prompted investors to book profits in safe-haven assets like gold. Despite the recent dip, gold is still on track for its eighth consecutive weekly gain.”
“In the short term, the combination of easing geopolitical risks and a stronger US dollar may continue to put pressure on gold prices. However, any pullback is likely to attract buyers at lower levels, as several uncertainties, such as the continuing risk of a US government shutdown, concerns over the Federal Reserve’s independence, and ongoing recession fears, still linger,” Desai said.
As per Manoj Kumar Jain, Prithvifinmart Commodity Research, the yellow metals is showing a support at USD3,944 and USD3,910, the resistance is visible at USD4,040 and USD4,080 per troy ounce.
On the other hand, silver is showing a strong support at USD46.40 and USD45.50, while resistance is at USD48 and USD48.80 per troy ounce, as on October 10.
“We suggest traders must stay away from gold and silver in today’s session amid very high price volatility, but long-term investors could stay invested and also add in a SIP mode in the price decline, as there is no change in the long-term fundamentals of gold and silver,” said Jain.
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