The December gold futures were trading at Rs 59,604 per 10 gram, down by Rs 148 or 0.25% from the Thursday closing price. Meanwhile, the December silver futures were trading at Rs 69,231 per kg, lower by Rs 801 or 1.14%.
On Comex, gold futures were trading at $1,951.30 per troy ounce on Monday, down by $0.80 or 0.04% while Silver futures were trading at $22.050, lower by $0.231 or 1.040%.
The dollar index was trading flat at 105.80 against a basket of top six currencies, down by 0.06 points or 0.06%.
“Spot gold closed with a loss of 1.08% at $1938.28 Friday as safe haven demand for the metal remained weak due to no further escalation in the ongoing Hamas-Israel war. As geopolitical risk remains contained, gold may decline further to $1900. US CPI inflation data will be crucial,” Praveen Singh, Associate Vice President, Fundamental Currencies and Commodities at Sharekhan by BNP Paribas said.
He sees support in Comex gold at $1,923-$1,900 while resistance at $1,945-$1,960/$1,970.
Price of gold in major physical bullion markets like Delhi, Ahmedabad and other cities is Rs 61,200 per 10 gram while those of 1 kg of Silver is Rs 73,500.Click to know more
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