Bullion Cues: Support in focus 

Sat Aug 01 2026

The prices of precious metals softened last week. Gold ($4,045/ounce) and silver ($57.60/ounce) dropped 0.2 per cent and 1 per cent, respectively. Similarly, in the domestic market, gold futures (₹1,43,376/10 gm) was down 0.6 per cent and silver futures (₹2,17,198/kg) lost 2.2 per cent. Below is an analysis.

Gold futures (Oct) was charting a sideways trend in the narrow band of ₹1,42,500-1,45,000 over the past week. Nevertheless, it was down 0.2 per cent.

The price action suggests that the contract has a new base at ₹1,41,000. If gold futures moves up on the back of this, it can rise to ₹1,47,500. The uptick could extend to ₹1,50,000.

Source: https://www.thehindubusinessline.com/