DBT Bureau
Pune, 9 Oct 2025
Gold Market Overview
Gold is trading around $4,040.7, down 0.73% or $29.8. Yesterday, prices briefly crossed $4,050 before profit booking set in.
- The spot–future spread has narrowed to $24.6 from nearly $70 yesterday, indicating booking pressure.
- The Gold Volatility Index (GVZ) remains elevated at 21.81, up 9.38%, pointing to continued intraday volatility.
- Monthly RSI levels are extremely overbought, last seen during the 1980 peak.
Support: $3,988 | Resistance: $4,082
Silver Market Overview
Silver is trading at $48.09, down 1.85% or $0.905 after a strong rally yesterday.
- The spread between spot and future has turned negative to –$0.685, reflecting weakening momentum.
- Silver is likely to be more volatile than gold in today’s session.
Support: $47.60 | Resistance: $49.04
Macro Factors to Watch
- China resumes trading after the Golden Week holiday, adding physical demand cues.
- The Chinese Central Bank has continued gold purchases for 11 consecutive months.
- Geopolitical tensions eased slightly after a peace framework announcement between Hamas and Israel.
- U.S. economic uncertainty persists amid the government shutdown and delayed data releases.
- FOMC minutes confirmed expectations of another rate cut in October, with chances for December also alive.
Gold–Silver Ratio Insight
The Gold–Silver Ratio stands at 82.25, with a slightly weaker tone, suggesting gold may remain under more pressure than silver in the near term.
Outlook
While fundamentals remain supportive, technical overbought conditions and narrowing spreads point to profit booking in the short term. As long as gold trades below $4,082, corrective moves may dominate today’s session, with major reversal support at $3,988.
Source:Kedia Stocks & Commodities Research Pvt. Ltd.
