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MCX Gold and Silver Remain Under Pressure; Analysts Advise Sell-On-Rise Strategy

Traders Should Monitor Global Economic Developments, US Dollar Movements, Central Bank Policy Signals, Interest Rate Expectations, Geopolitical Events, and Industrial Demand Trends

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Precious metals continued to face selling pressure on the Multi Commodity Exchange (MCX), with technical indicators pointing to a bearish outlook for both gold and silver in the near term,

MCX Gold opened lower, reflecting weak market sentiment and an ongoing downtrend characterized by lower highs and lower lows. Analysts identify the Rs. 152,000 level as a key resistance zone, where any recovery is likely to attract fresh selling interest. Gold is expected to test support around Rs. 140,000, while a sustained move above Rs. 157,000 could invalidate the bearish outlook.

Silver is also trading with a cautious-to-negative bias, with market participants favoring a sell-on-rise strategy. The Rs. 240,000 level remains a significant resistance area, and any rally towards this zone could trigger renewed selling. On the downside, silver is expected to move towards Rs. 225,000, while a break above Rs. 249,000 may signal a reversal in trend.

Market experts advise traders to closely monitor global economic developments, US dollar movements, central bank policy signals, interest rate expectations, geopolitical events, and industrial demand trends, all of which could influence precious metal prices and increase short-term volatility.

Overall, the near-term bias remains cautious to negative, with prices attempting to stabilize near a key support level. A breakout above immediate resistance is required to improve sentiment and stabilize the structure, while geopolitical developments, safe-haven demand, and broader market volatility continue to influence price direction.

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National News

Senco Gold & Diamonds Brings Festive Cheer With “Dhanteras Shagun”, Offering Exclusive Savings and Rewards

The Festive Offer Features Up To ₹14,000 Off Per 10 Grams On Gold Jewellery, Up To 36% Off On Diamond Value, and Lucky Draw Prizes Including Gold Worth ₹1.20 Crore and An iPhone 18 Pro.

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As Dhanteras approaches, Senco Gold & Diamonds has announced “Dhanteras Shagun”, a special festive offer celebrating the tradition of buying gold and jewellery during this auspicious time of the year. The offer will be available across Senco Gold & Diamonds showrooms from 26 October to 8 November 2026.

Dhanteras holds special significance in Indian households, with gold purchases traditionally associated with prosperity, good fortune and new beginnings. Through this campaign, Senco Gold & Diamonds aims to make festive jewellery shopping more rewarding while offering customers an opportunity to explore its diverse collections.

As part of the offer, customers can avail up to Rs 14,000 off per 10 grams on gold jewellery and up to 36% off on natural diamond value. The offer also includes 0% deduction on old gold exchange. Customers can participate in a lucky draw featuring prizes including gold worth ₹1.20 crore and an iPhone 18 Pro. An assured gift is available on every purchase, while SBI Credit Card holders can avail an instant discount of up to ₹7,500, subject to applicable terms and conditions.

Commenting on the occasion, Suvankar Sen, CEO and Managing Director of Senco Gold Limited, said:

“Dhanteras is deeply rooted in our cultural traditions and represents prosperity, optimism and new beginnings. Gold has always held a special place in these celebrations, bringing families together across generations. With Dhanteras Shagun, we hope to make this festive occasion even more meaningful for our customers. At Senco, we believe jewellery is not just an adornment but also a part of the memories, traditions and milestones that families cherish over the years.”

Joita Sen, Director & Head of Marketing and Design, Senco Gold & Diamonds, added:

“Dhanteras is an auspicious occasion that celebrates prosperity, new beginnings and the joy of bringing home something precious. At Senco Gold & Diamonds, we aim to make every festive purchase meaningful by bringing together exquisite designs, timeless craftsmanship and attractive offers. With our special Dhanteras offers, we make this festive purchase even more rewarding, giving customers more reasons to celebrate with jewellery they will cherish for years to come.”

Senco Gold & Diamonds offers an extensive and diverse jewellery portfolio this festive season. From gold coins, a popular choice during Dhanteras, to exquisite gold and natural diamond jewellery, Senco’s expansive offerings ensure there is something for every festive celebration, gifting occasion and milestone.

Customers can visit their nearest Senco Gold & Diamonds showroom from 26 October to 8 November 2026 to avail the Dhanteras Shagun offer. Terms and conditions apply.

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