“We’re seeing a bit of bounce right now due to profit-taking activities, given the fact that gold itself still continues to remain trapped in this complex sideways range configuration,” said Kelvin Wong, a senior market analyst at OANDA.
Internationally, gold has support at $4,515 and $4,470, while resistance is at $4,600 and $4,640 per troy ounce, and silver has support at $75.50 and $72, while resistance is at $80 and $82.80 per troy ounce.
On MCX, gold has support at Rs. 1,57,000 and Rs. 1,55,500, and resistance is at Rs. 1,59,400 and Rs. 1,60,650, while silver has support at Rs. 2,66,600 and Rs. 2,61,200 and resistance at Rs. 2,77,700 and Rs. 2,83,000, said Jain.
