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Gold, silver gain up to 1 pc on softer dollar, easing inflation fears
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morungexpress.com
On the Multi Commodity Exchange (MCX), gold futures (August) opened at Rs 1,43,575 per 10 grams, compared with the previous close of Rs 1,43,106.
Lower oil prices also weakened the US dollar, making bullion more attractive to investors.
For MCX Gold, immediate resistance is seen in the Rs 1,45,500-1,46,000 range, while support lies at Rs 1,43,500-1,43,000.
For MCX Silver, immediate resistance is placed at Rs 2,26,000-2,26,500 per kg, followed by Rs 2,28,000-2,28,500, while support is seen in the Rs 2,23,000-2,22,300 range.
Analysts said prices need to hold above current levels and reclaim the immediate resistance zone to gather further upside momentum.