{
  "id": 27106,
  "title": "Bullion Cues: Support in focus",
  "url": "https://urgent.news/2026/08/01/bullion-cues-support-in-focus",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-01T15:08:09.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/portfolio/commodity-analysis/bullion-cues-support-in-focus/article71292254.ece"
  },
  "original_language": "en",
  "account": "The prices of precious metals experienced a slight decline last week. Gold and silver both witnessed a drop, with gold futures (October contract) falling by 0.2 percent and silver futures (September contract) losing 2.2 percent. The domestic market saw gold futures at ₹1,43,376 per 10 grams declining by 0.6 percent, while silver futures at ₹2,17,198 per kilogram dropped by 2.2 percent.\n\nGold futures (October) had been trending sideways within a narrow band of ₹1,42,500-1,45,000 over the past week. However, the price action suggested that the contract had found a new base at ₹1,41,000. If gold futures move upwards following this support, it could reach ₹1,47,500. Conversely, if the support at ₹1,41,000 is breached, the contract may drop to ₹1,34,000.\n\nTrade strategists with a high risk tolerance could consider going long at ₹1,42,000, targeting ₹1,49,000 and setting a stop-loss at ₹1,39,500. Alternatively, if the support at ₹1,40,000 is breached, they could opt for a short position with a stop-loss at ₹1,42,000, aiming for a target of ₹1,34,000.\n\nSimilarly, silver futures (September) was largely trading in a sideways band, with a loss of 2.2 percent for the week. The contract had formed a support at ₹2,14,000. Should there be a rebound on this support, silver futures could rally to ₹2,27,000. A breakout of this support could lift it to ₹2,34,000. If the contract breaches the support at ₹2,14,000, it could decline to ₹2,10,000. Support below ₹2,10,000 is at ₹2,00,000. For traders with a high risk tolerance, buying at ₹2,17,400 with a stop-loss at ₹2,12,000 and booking profits at ₹2,34,000 could be a viable strategy. However, if the contract breaks below ₹2,14,000, selling with a stop-loss at ₹2,19,000 for a target of ₹2,00,000 may be considered.",
  "summary": "Recovery possible from current levels",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}