Gold remained bearish for the entire week tracking international trends. Drop in gold holding in SPDR Trust to 899.99 tonnes and slackened spot demand coupled with strength in Indian Currency against US dollar also added to the weak sentiments but the concerns of shutdown in US Government which could lead to US government default over its debt ceiling issue limited the downside.

Over all, MCX Gold December future is in consolidation around lower levels and sustaining around weeks low. For the coming week 28550/28000 will act as a major support whereas 29580/30110 will act as a major resistance level in MCX Gold December future. For the next week in MCX Gold, trader can use sell on higher level strategy, if MCX Gold December future sustain below the levels of 28900 then it could test the levels 28700 /28550.

Silver remained sideways around lower levels tracking global cues and trends of gold. However, uncertainty due to the concerns of US government shutdown over debt ceiling issue raised the sentiments for safer haven leading to attracting investment interests in bullion which kept silver prices in range.

Technically, MCX Silver December futures is sideways and sustaining around lower levels. For the coming week 50215/52165 will act as major resistance levels where as 46270/43750 will act as major support in MCX Silver December futures. For the next week in MCX Silver futures, traders can use sell on higher level strategy, if MCX Silver December futures sustains below 47760 then it could test the levels of 46860/ 45480.