Gold price today: The precious metal, Gold futures, at the New York Commodity Exchange (Comex) on Thursday, 6 November 2025, as the weakening job market data raised the potential for a future US Federal Reserve rate cut in the US economy.
According to the data collected from the Comex website, the gold futures in New York were trading 0.19% or $7.60 per ounce higher at $4,000 per ounce level as of 9:29 a.m. (EDT), compared to the previous commodity market close at $3,992.90 per ounce.
The data also showed that during the morning trading hours, the precious yellow metal futures for the December 2025 contract jumped to $4,028.70 per ounce on Thursday.
A buying pattern in gold potentially indicates that the investors are buying safe-haven assets amid an uncertain environment due to several domestic and geopolitical parameters.
Experts suggest that even though the overall momentum indicators for gold remain bullish, the precious yellow metal can witness a potential pullback in the short term.
Technical Outlook on Gold
On the technical front, Nirpendra Yadav, Sr. Commodity Research Analyst at Bonanza, said that there is a strong uptrend with the monthly and weekly timeframes in the commodity.
Yadav highlighted that the global gold prices will have a key support level of $3,700 per ounce, with a resistance zone at $4,380 per ounce as the commodity is in ‘slightly overbought’ territory.
“Gold in the COMEX division is in a strong uptrend across the monthly and weekly timeframes. Price is trading above key moving averages (50-day and 200-day) and higher highs, higher lows are intact. However, momentum indicators remain bullish but slightly overbought, indicating possibility of short-term pullbacks. Gold has support at $3,700 and resistance at $4,380,” said the commodity market expert.
MCX gold today
In India, the Multi-Commodity Exchange (MCX) data showed that the gold futures for the December 2025 contract were trading 0.31% or ₹378 higher during the evening market session on Thursday, 6 November 2025.
Gold futures on MCX were trading 0.31% or ₹378 higher at ₹120,900 per 10 grams as of 8:26 p.m. (IST), compared with ₹120,522 per 10 grams at the previous market close, according to the official data.
A commodity analyst at Motilal Oswal said that the buying strategy for gold remains within the ₹116,000-124,000 range, as the lower end of the spectrum remains upper bound of the channel, making it a potential accumulation zone for the gold prices.
However, if the gold prices close below the ₹112,000 per 10 grams level, then the bullish setup for gold will no longer remain valid, said Manav Modi, Analyst of Precious Metal at Motilal Oswal Financial Services Ltd.
On the technical front for MCX gold, Nirpendra Yadav told Mint that the precious yellow metal has a support level of ₹110,000 per 10 grams with the resistance at ₹129,000 per 10 grams.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.