Gold future continued to trade lower for the entire week. The Federal Reserve is less likely to reduce its bond-buying program this month given the U. S. government shut down and resulting lack of economic data, as well as the ongoing debate over the debt ceiling, a  top central bank policy maker said. US unemployment claims increased raising a hope of prolonged QE3 and supporting gold prices a bit. Gold prices can move down for the next week as any further move by US regarding solving the debt ceiling issue can push the Gold prices further down. Positive Indian Rupee can also help prices in India to move down further.

Over all, MCX Gold December future is in consolidation around lower levels and sustaining around weeks low. For the coming week 28000/27500 will act as a major support whereas 29200/30110 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 28200 then it could test the levels 28000 /27700.

Silver traded sideways for the entire week and followed the trend of Gold. However, Uncertainty due to the concerns of US shut down or debate over the debt ceiling issues and strong Rupee against the USD may put pressure on the prices.

Technically, MCX Silver December futures is sideways and sustaining around lower levels. For the coming week 48500/50200 will act as major resistance levels where as 45000/43100 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 46600 then it could test the levels of 45500/ 44200.