Daijiworld Media Network – Mumbai

Mumbai, Nov 6: Gold and silver futures opened lower on the Multi Commodity Exchange (MCX) on Friday, November 6, tracking a decline in international precious metal prices.

The December 4 gold contract opened at Rs 1,42,161 per 10 grams, down Rs 1,934 or 1.34 per cent from its previous close of Rs 1,44,095. It subsequently touched an intraday low of Rs 1,41,808, registering a decline of Rs 2,287 or 1.58 per cent. At the last reported level, it was trading at Rs 1,41,883, down Rs 2,212.

Gold futures maturing in February 2027 also declined by Rs 2,232 or 1.52 per cent to Rs 1,44,834 per 10 grams, with a business turnover of 1,355 lots.

Ponmudi R, CEO of Enrich Money, said MCX gold opened with a gap-down near Rs 1,42,150 and continued trading around that level. He noted that the previous session had witnessed selling pressure near Rs 1,46,000.

According to him, immediate resistance for gold is placed between Rs 1,43,000 and Rs 1,43,700, followed by Rs 1,45,300 to Rs 1,46,000. On the downside, support is expected between Rs 1,40,000 and Rs 1,41,000, with another important support zone at Rs 1,37,500 to Rs 1,38,300.

He added that the Relative Strength Index (RSI), hovering around 43 and remaining below the neutral level of 50, indicated that the recent recovery lacked sufficient momentum.

Silver futures also opened lower. The December 4, 2026 contract began trading at Rs 1,85,499 per kg against the previous close of Rs 1,87,140, declining by Rs 1,641 or 0.87 per cent. It later touched an intraday low of Rs 1,84,073, down Rs 3,067 or 1.64 per cent from the previous close.

In the international market, COMEX gold declined 1.48 per cent to around USD 4,052.80 per troy ounce. Spot gold was quoted at USD 4,040.66 per ounce at 10 am, down USD 21.75 or 0.54 per cent.

In the retail market, 24-carat gold in Delhi was priced at Rs 1,46,700 per 10 grams, while 22-carat gold stood at Rs 1,34,000.

In Mumbai and Kolkata, 24-carat gold was quoted at Rs 1,46,020 per 10 grams and 22-carat gold at Rs 1,33,850. In Chennai, 24-carat gold was priced at Rs 1,43,350, while 22-carat gold stood at Rs 1,31,400 per 10 grams.

Silver was priced at Rs 2,10,000 per kg in Delhi, Mumbai and Kolkata. In Chennai, the metal was quoted at Rs 2,05,000 per kg.