The yellow metal in India slipped down today settling in red, seems that the whole Indian market is running on losses.
India Gold MCX April futures were trading down on Wednesday on the back of muted global cues in the international spot prices.
Also, both the gold and silver metals paused due to sharp rebound in the dollar indices.
April gold contracts were trading down by 0.24 percent at Rs 46,786 levels on the Multi-Commodity Exchange. Gold was around Rs 46,786 for per 10 grams at 09:20 hours IST.
Moreover, the March Silver futures were also trading at 0.27% up at Rs 69,561 per grams.
Investors can witness short rallies towards Rs 47000 per gram in the upcoming session.
The Gold has a support near Rs 46,650 – 46,400 levels at MCX. It has a resistance level at Rs 47180 – 47,440 range. Experts suggest selling for a target of Rs 46,500.
Also, the Silver or the white metal too has a support in the range of Rs 68,800 – 68,200 levels. Currently, the silver has resistance at Rs 47,000 with stop loss of Rs 4,300.
Meanwhile, the COMEX gold is currently trading lower by 0.4 percent around $1791/oz after yesterday’s decline.
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