Gold and Silver Price Today: Can precious metals hit higher targets despite volatile trend and strong dollar?

Gold and Silver Price Today: Gold and silver prices extended their gains on Thursday in a highly volatile session, supported by continued central bank buying and global market cues.

However, hawkish comments from the U.S. Federal Reserve and a stronger dollar index limited the upside.

Gold Price Today

In the international market, gold December futures settled at $4,015.90 per troy ounce, up 0.38 per cent, while silver December futures rose 1.47 per cent to $48.616 per troy ounce.

In the domestic market, both precious metals ended on a positive note. Gold December futures on the MCX settled at Rs 1,21,508 per 10 grams, up 0.70 per cent, and silver December futures closed at Rs 1,48,840 per kilogram, up 1.89 per cent.

Analysts noted that, despite hawkish comments from the Fed on policy rate cuts and the dollar index rising above the 99 mark to a three-month high, precious metals found support from global factors.

What Expert Said?

The European Central Bank (ECB) kept interest rates unchanged. At the same time, record gold buying by central banks, 220 metric tonnes in Q3 2025, up 28 per cent from the previous quarter, also provided a strong underpinning to prices.

According to Manoj Kumar Jain, gold is holding its crucial support level of $3,870, while silver maintains its support at $46.50 per troy ounce on a closing basis.

For the day, gold is expected to trade between $3,945 and $4,084 per troy ounce, while silver may move between $47.70 and $49.50 per troy ounce.

Gold and Silver Target Price

On the MCX, gold has support at Rs 1,20,650–Rs 1,19,800 and resistance at Rs 1,22,200–Rs 1,23,100. Silver’s support lies at Rs 1,47,700–Rs 1,46,500, with resistance seen at Rs 1,50,150–Rs 1,51,500.

Jain suggests a “buy on dips” strategy as long as gold and silver hold above their key support levels. In the short term, gold could test Rs 1,24,000, while silver may move towards Rs 1,52,500.