NEW DELHI:
Gold price saw an ascent in the domestic futures market in Monday's session after a firm demand from local jewellers at the spot market, coupled with positive leads from the global market.
Gold traded firm near a five-month peak hit early on Monday, supported by a disappointing US jobs data that fuelled speculation that the Federal Reserve may stop raising interest rates sooner than expected,
Reuters reported.
Around 10:25 am, the MCX Gold was trading at Rs 31,638 per 10 grams, up by Rs 43. The MCX
Silver, however, was trading lower by Rs 8 at Rs 37,964 per kilo at that time.
"MCX Gold has an immediate support at Rs 31,500-31,430, whereas a key short-term support is at Rs 31,200. The bias remains positive and buying near the support is advised. The commodity has a resistance at Rs 31,750-31,850," said
Motilal Oswal Securities.
For the MCX Silver, the brokerage sees a positive bias as long as Rs 37,600-37,450 is held as support.
"The commodity has a resistance at Rs 38,150-38,350," the brokerage said.