Gold prices was range bound on Friday and ended lower for the day.  ECB cut rates by 25 bps and pledged to prevent inflation from falling further to support economic recovery in the region.  ECB's move boosted gold's inflation hedge appeal, but a stronger dollar limited upside in prices.  However, US GDP unexpectedly grew at 2.8% in the third quarter and pressurized bullions.  Gold prices are expected to move down as strong US economic growth despite the government shut down has renewed fears of Fed scaling back its bond buying program earlier and can push gold prices down.

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 29726 then it could test the levels 29550 /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 47900 then it could test the levels of 46762/ 45267.