Gold futures commenced the trading session on the MCX with a notable decline on Monday, as investors engaged in profit-taking following the rally observed in the prior session. Gold futures for April 2026 decreased by Rs 1,000, settling at Rs 1,54,905 per 10 grams, while silver experienced a decline of 3.3%. In global markets, spot gold and silver experienced a decline following significant gains on Friday, indicative of a cautious sentiment prevailing among investors. On the MCX, gold exhibits support within the Rs 1,54,400–1,53,150 range, while facing resistance at Rs 1,56,800–1,58,200. Silver exhibits support within the range of Rs 2,38,800 to Rs 2,32,000, while encountering resistance between Rs 2,49,100 and Rs 2,55,000.
Gold and silver futures commenced the trading session on the Multi Commodity Exchange with a notable decline on Monday, as investors opted to realize profits after a significant increase in the prior session. MCX Gold futures due in April 2026 declined by Rs 1,000, representing a decrease of 0.64%, settling at Rs 1,54,905 per 10 grams. Meanwhile, silver futures for March 5, 2026 delivery declined by Rs 8,265, or 3.3%, settling at Rs 2,36,100 per kg. In the international market, spot gold decreased by 0.4% to $5,020.10 per ounce by 0111, following a 2.5% increase in the previous session. U.S. gold futures for April delivery decreased by 0.1%, settling at $5,039.50 per ounce. Spot silver experienced a decline of 0.6%, settling at $76.92 per ounce, subsequent to a 3% increase observed on Friday.
Manoj Kumar Jain noted that global financial markets are experiencing significant volatility driven by AI-induced disruptions and a sell-off in global equities. He indicates that both precious metals are undergoing significant price fluctuations. He observed that silver prices might maintain support at $65 per troy ounce, whereas gold could uphold support at $4,770 per troy ounce on a closing basis this week. Jain anticipates that gold and silver will exhibit volatility due to variations in the dollar index, progress in US-Iran negotiations, and overarching geopolitical tensions. In the current session, gold exhibits support levels ranging from $5,010 to $4,970 per troy ounce, while resistance is observed between $5,080 and $5,122 per troy ounce. Silver exhibits support levels ranging from $74.40 to $72.00, while facing resistance between $80.00 and $82.40 per troy ounce.
On the MCX, gold exhibits support within the Rs 1,54,400–1,53,150 range, while resistance is observed at Rs 1,56,800–1,58,200. Silver exhibits support within the range of Rs 2,38,800 to Rs 2,32,000, while encountering resistance between Rs 2,49,100 and Rs 2,55,000. He suggests purchasing gold during price declines within the Rs 1,54,000–1,53,300 range, implementing a stop loss beneath Rs 1,52,000, and aiming for targets of Rs 1,56,600–1,57,500. However, he recommended steering clear of trades in silver because of its exceptionally high volatility.