Precious metal prices on Jan 2, 2025: Gold surges past Rs 77,000/10 gm, silver jumps over Rs 1,500/ kg in 2 days

Gold prices in Thursday's session (December 2, 2025) has scaled Rs 77,000 per 10 gm mark on the MCX. In the first two sessions of the calendar year 2025, gold on the MCX has gained Rs 440 per 10 gm or 0.57 per cent at the day's high. Last at the time of writing this copy, gold February futures were up 0.22 per cent or Es 167 at Rs 77,060 per 10 gm. Meanwhile, silver March futures were trading with sharp gains of over 1 per cent or Rs 881 at Rs 88,459 per kg, with prices soaring Rs 1,511 per kg in 2 days.

In the previous trading day, gold and silver ended with modest gains amid lacklustre trade as most global markets were shut for New Year celebrations.

Internationally, spot gold was last up 0.38 per cent to $2,634.495 per ounce. Prinarily, dollar retreat from record highs is also aiding gains in the bullion. Last, the US dollar index was trading at 108.49, up 0.33 per cent, after scaling the multi-year high of 108.58 on Tuesday.

Additionally, the uncertainties around Donald Trump's tariff policies, geopolitical risks, and central bank buying are supporting the precious metal.

Furthermore, gold price also drawing support from the weak China manufacturing data released today morning. China General Manufacturing PMI fell to 50.5 in December 2024, missing market estimates of 51.7.

We are expecting Gold and silver prices could maintain positive momentum in today’s session, said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.

Gold price support and resistance levels

Gold has support at $2615-2600 while resistance at $2647-2662. Silver has support at $29.10-28.88 while resistance is at $29.40-29.55. In INR gold has support at Rs 76,680-76,520, while resistance at Rs 77,050-77,210. Sliver has support at Rs 87,080-86,500 while resistance at Rs 88,230-88,700, noted Kalantri.