Gold prices were down on Monday in the morning exchange amid persevered power in the dollar index (DXY) which was up 0.12% at 105.49 against six predominant currencies.
The MCX October gold futures had been trading down by Rs 61 or 0.10% from the Friday final price at Rs 58,885 per 10 gram on the MCX even as the December Silver futures were trading at Rs 73,190 per kg, decrease via Rs 147 or 0.20%.
On Comex, gold futures have been buying and selling at $1,942.25 per troy ounce on Monday, down by way of $2.85 or 0.15% even as silver futures were at $23.770, lower by means of $0.071 or zero.30%.
Neha Qureshi, Senior Technical & by-product Analyst, Anand Rathi Commodities & Currencies sees MCX gold October futures closing stuck in a sideways sample at the daily chart, trading inside a variety between Rs 58,300 and Rs 59,400.
currently, gold is trading near its 50-day and one hundred-day Exponential moving Averages (EMA), which are performing as resistance ranges, she brought.
“The Relative strength Index (RSI) is indicating a bearish sentiment with a bad divergence. If the rate is going up, it is able to come upon resistance round Rs 59,200-59,670, while at the disadvantage, there is support at approximately Rs 58,600-58,275,” report said .
Gold futures are down zero.83% or via Rs 494 on the month-to-date foundation even as they have won 7.02% or through Rs 3,863 on the yr-to-date basis, Anuj Gupta, Head Commodity & currency at HDFC Securities, of HDFC Securities advised ETMarkets.
As for silver futures, the declines are to the track of 3.21% or Rs 2,435 in September whilst the gains this year stand at 5.53% or Rs 3,837, he said. Gupta sees gold trying out stages of $1,915-$1,920.
The bodily charge of gold in top Indian cities like Delhi and Ahmedabad is around Rs 59,800 per 10 gram whilst Rs 75,200 for silver.