Purbalee Dutta 
Gold prices on the Multi Commodity Exchange of India (MCX) opened lower on Monday, following declines in international bullion markets amid a stronger US dollar and optimism over a potential US-China trade deal. MCX gold began the day at ₹1,22,500 per 10 grams, down 0.77% from Friday’s close of ₹1,23,451. Similarly, silver opened 3.09% lower at ₹1,42,910 per kg, compared to its previous close of ₹1,47,470.
By 9:05 AM, gold was trading at ₹1,22,363 per 10 grams, a drop of ₹1,088 or 0.88%, while silver declined by ₹1,130, or 0.77%, to ₹1,46,340 per kg. Globally, gold prices eased as progress in US-China trade negotiations reduced safe-haven demand. Investors also awaited key central bank meetings this week for guidance on monetary policy. The US dollar rose to a two-week high against the yen, increasing gold’s cost for other currency holders.
Experts expect further fluctuations: Reliance Securities’ Jigar Trivedi sees MCX gold for December possibly slipping to ₹1,22,600 per 10 grams. Mehta Equities’ Rahul Kalantri noted support and resistance levels for gold at ₹1,22,470–₹1,21,780 and ₹1,23,950–₹1,24,800, while silver’s range is ₹1,46,250–₹1,45,150 (support) and ₹1,47,950–₹1,48,780 (resistance).
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