{
  "id": 5795165,
  "title": "Bullion Cues: Support holds",
  "url": "https://urgent.news/2026/09/05/bullion-cues-support-holds",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-05T15:55:51.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/portfolio/commodity-analysis/bullion-cues-support-holds/article71431424.ece"
  },
  "original_language": "en",
  "account": "Last week, precious metals prices faced a decline. Gold and silver both experienced a drop, with gold's price falling to $4,429.80 per ounce and silver to $66.20 per ounce. In India, gold futures slipped 2.2% to ₹1,52,767 per 10 grams, while silver futures decreased 2% to ₹2,37,658 per kilogram. The decline in gold futures reached its lowest point at ₹1,49,665 in the October contract. However, the 50-day moving average and the 61.8% Fibonacci retracement of the recent rally both converged at ₹1,50,000, providing a crucial support level for the market. As long as this support remains intact, a positive outlook for gold futures is expected. In the near term, gold futures could surpass the previous high of ₹1,64,773 and reach ₹1,67,000. Conversely, if the price falls below the support at ₹1,50,000, a downward trend could extend to ₹1,44,000. A further support level exists at ₹1,40,000. For trade strategy, consider buying gold futures (October) at ₹1,52,700, with a stop-loss at ₹1,49,000. Should the contract advance to ₹1,60,000, adjust the stop-loss to ₹1,55,000, and take profits at ₹1,67,000.\n\nSilver futures also experienced a decline, reaching a low of ₹2,31,811 last week. However, the price quickly recovered as there was a support at ₹2,32,000. The 50-day moving average for silver futures sits at ₹2,34,525, creating a support band between ₹2,32,000 and ₹2,34,525. In the upcoming sessions, a rally in silver futures is anticipated. Although resistance levels of ₹2,45,000 and ₹2,55,000 exist, the contract could surpass these levels and climb to ₹2,60,000 in the short term. Should the base at ₹2,32,000 be decisively broken, silver futures could plummet to ₹2,25,000. Support below ₹2,25,000 is at ₹2,18,500. For trade strategy, buy silver futures (December) at ₹2,37,500, using a stop-loss at ₹2,29,000. If the contract rebounds to ₹2,50,000, tighten the stop-loss to ₹2,42,000, and book profits at ₹2,60,000.",
  "summary": "Participants can consider longs",
  "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."
}