New Delhi: On Tuesday, gold and silver prices moved in opposite directions. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold fell by Rs 69 to Rs 1,04,424 per 10 grams, while 22-carat dropped to Rs 95,652 and 18-carat to Rs 78,318. In contrast, silver edged up by Rs 33 to Rs 1,22,833 per kg.
On the Multi Commodity Exchange (MCX), October gold futures rose 0.30 percent to Rs 1,05,100, but December silver futures slipped 0.12 percent to Rs 1,24,509. Globally, both metals gained on Comex, with gold up 1.13 percent at $3,555.82/oz and silver advancing 2 percent to $41.51/oz.
Analysts said profit booking, a stronger rupee, and resistance near the $3,500 mark capped gold’s rally. This week’s US economic data, including jobs reports, could guide market sentiment. A decisive breakout above $3,510 (Comex) or Rs 1,05,500 (MCX) may fuel further gains, while support levels lie at $3,450/$104,000.
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