Gold prices traded lower in the early part of Friday's trading session. As, higher US GDP growth which came at 2.5% and lesser unemployment claims hurt Gold's prices. Easing fears of a strike on Syria as UK Parliament voted against it, also hurt gold's safe haven appeal. In the Indian market, The RBI is planning to allow banks to buy back gold from the citizens and sell it to refiners to reduce the imports, a  pilot project would be launched soon in this regard. Gold prices are expected to move down as a stronger dollar on fears of stimulus withdrawal by Fed and easing geopolitical tensions can hurt gold prices.

Over all, MCX Gold October future is bullish and sustaining around higher levels. But in the last two days of the week, we saw the profit booking in it. So for the coming week 30980/30240 will act as a major support whereas 32464/33100 will act as a major resistance level in MCX Gold October future. For the next week in MCX Gold, trader can use sell on higher level strategy, if MCX Gold October future sustain below the levels of 31974 then it could test the levels 31686 /31278.

Technically, MCX Silver is consolidate and sustaining around higher levels. So, for the coming week 57330/59650 will act as major resistance levels where as 52000/49906. will act as major support in MCX Silver December futures. Last week MCX Silver December futures was sustaining around lower levels. For the next week traders can use sell on higher level strategy, if MCX Silver December futures sustains  below 55000 then it could test the levels of 53800/ 52100.