Mumbai, Nov 28 || Gold and silver prices rose in the domestic futures market on Friday morning as strong spot demand and expectations of a US Federal Reserve rate cut lifted investor sentiment.
During early trade, MCX gold December futures were trading 0.39 per cent higher at Rs 1,25,999 per 10 grams, while MCX silver December contracts were up 0.85 per cent at Rs 1,63,849 per kg.
“MCX Gold futures are now approaching a critical resistance zone between Rs 1,26,800 and Rs 1,27,500,” market watchers said.
“A decisive daily close above this band can trigger a fresh rally toward Rs 1,29,000– Rs 1,30,500 in the coming sessions,” they added.
On the downside, immediate support is seen near Rs.1,25,500, followed by a stronger base in the Rs.1,25,000– Rs.1,24,400 region, according to analysts.