New Delhi: Gold and silver prices today edged higher in Indian markets, tracking positive global cues. On MCX, June gold futures were 0.25% higher at ₹48,662 per 10 gram while silver rates rose 0.6% to ₹72,033 per kg. Gold rates in India have jumped about ₹2,000 so far this month.
MCX gold has support at ₹48,200 and resistance at ₹49,100, say analysts. On the other hand, MCX silver has support at ₹70,080 and support at ₹74,200. “Positive outlook for gold remains intact as long as prices hold the support of $1875. However, immediate resistances are seen at $1925 followed by 1970 levels.
A direct drop below $1845 would weaken the sentiment, but major downside reversal point is seen at $1810,” domestic brokerage Geojit said in a note. Data released last week showed US consumer prices surged in April, posting its largest annual gain since 1992.
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