ETMarkets.comNEW DELHI: Gold and silver prices edged higher in futures trade on Thursday in the wake of a slight uptick in demand by local jewellers at spot market.
Gold steadied in global markets as the dollar eased against its global peers. A weak dollar means gold will appreciate as the commodity becomes cheaper in other currencies, giving rise to its demand.
The MCX Gold was trading at Rs 32,321 per 10 grams, up by Rs 35, while MCX Silver was trading Rs 68 higher at Rs 39,660 a kilo around 10:55 am.
"MCX Gold may trade in a sideways range for the session and has support at Rs 32,170-32,100, whereas the resistance is at Rs 32,350-32,400," brokerage Motilal Oswal Securities said.
MCX Silver has intraday support at Rs 39,200, whereas resistance is at Rs 39,800, the brokerage said.
Gold steadied in global markets as the dollar eased against its global peers. A weak dollar means gold will appreciate as the commodity becomes cheaper in other currencies, giving rise to its demand.
The MCX Gold was trading at Rs 32,321 per 10 grams, up by Rs 35, while MCX Silver was trading Rs 68 higher at Rs 39,660 a kilo around 10:55 am.
"MCX Gold may trade in a sideways range for the session and has support at Rs 32,170-32,100, whereas the resistance is at Rs 32,350-32,400," brokerage Motilal Oswal Securities said.
MCX Silver has intraday support at Rs 39,200, whereas resistance is at Rs 39,800, the brokerage said.
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