Gold Price Today : Multi Commodity Exchange (MCX) gold futures – due for settlement on October 5 – moved within a wide range, between ₹ 50,600 and Rs 50,970, compared to their previous close of ₹ 50,821, trading mostly in the negative territory. The MCX gold futures contract settled at ₹ 50,920, up 0.19 per cent – or Rs 99 – for the day.
Gold prices fell to a near one-week low, as a stronger US dollar and an uptick in risk appetite following better-than-expected economic data dented demand for the safe-haven metal.
Gold Silver Reports (GSR ) – On the daily chart, the gain on Monday confirms a break above the former resistance at $1,238, the 14.6 percent projection level of a downward wave C from $1,366.07. The next Resistance will be at $1,305.
Gold Silver Reports (GSR) — Following gold, silver prices also surged by Rs 190 on increased offtake by industrial units and coin makers. Silver ready also strengthened by Rs 190 to Rs 38,290 per kg and weekly-based delivery by Rs 200 to Rs 37,725 per kg. Silver coins remained unaltered at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.
Meanwhile, physical gold buying waned in major Asian centres last week as bullion prices rebounded from recent lows, with dealers in India offering the metal at a discount for the first time in over a month as an uptick in local rates moderated demand.