November 6, 2025
Gold and silver prices have dropped, losing earlier gains due to widespread selling in the raw commodity futures markets. A significant downturn in the U.S. stock market is not currently benefiting these safe-haven metals. Additionally, a lower U.S. dollar index and a dip in U.S. Treasury yields are not providing support. December gold futures fell by $6.10 to $3,986.30, while December silver futures decreased by $0.382 to $47.635.
The U.S. dollar index is lower today, with crude oil prices also weaker, trading around $59.25 per barrel. The yield on the 10-year U.S. Treasury note is approximately 4.2%.
In the gold futures market, the next target for bulls is to close above $4,100.00, while bears aim to push prices below $3,800.00. Initial resistance is at $4,028.70, followed by $4,059.90. Support is at $3,973.20 and then $3,935.70.
For silver futures, bulls are targeting a close above $50.00, with bears looking to push prices below $45.00. Resistance is at $48.615 and then $49.00, while support is at $47.50 and then $47.00.
Jim Wyckoff, a seasoned market analyst, provides daily insights and analysis on Kitco.com, helping investors navigate the complexities of the market.
