Gold prices fell on Friday on profit booking and stronger dollar index put further pressure on prices. Lower US claims slipping inflation in Euro zone weighted on prices. Physical demand from India has also failed to support gold prices despite the festive season. Gold prices are expected to move down as optimism over economic recovery in US and a stronger dollar amid lower inflation expectations are likely to weigh on prices.

Over all, MCX Gold December future is in consolidation and sustaining around lower levels. For the coming week 29000/28750 will act as a major support whereas 30100/30450 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 29660 then it could test the levels 29540 /29300.

Technically, MCX Silver December futures is sideways and sustaining around lower levels. For the coming week 48831/50100 will act as major resistance levels where as 45267/44000 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 47600 then it could test the levels of 46762/ 45267.