Gold prices traded on higher levels for the entire week as a US deal to extend the debt ceiling till February renewed hopes that Fed may postpone the wind down of its stimulus program at least till March and boosted gold's inflation hedge appeal.

A weaker dollar and slightly higher than expected US unemployment claims also pushed gold prices higher. Gold prices also surged after a Chinese rating agency downgraded US. Gold prices are expected to remain in range as weak investment demand is likely to keep prices in check while markets await the delayed release of key economic data from US.

Over all, MCX Gold December future is in consolidation and sustaining around higher levels. For the coming week 29211/28802 will act as a major support whereas 30500/31085 will act as a major resistance level in MCX Gold December future. For the next week in MCX Gold, trader can use buy on lower level strategy, if MCX Gold December future sustain above the levels of 29920 then it could test the levels 30100 /30500.

Silver prices surged on Friday as a weaker dollar and US positive data also pushed Silver prices higher.

Technically, MCX Silver December futures is sideways and sustaining around higher levels. For the coming week 52165/53955 will act as major resistance levels where as 46762/45267 will act as major support in MCX Silver December futures. For the next week in MCX Silver futures, traders can use buy on lower level strategy, if MCX Silver December futures sustains above 48900 then it could test the levels of 50000/ 52165.