Commodities
Gold, Silver Prices Slide on MCX After Strong Weekly Gain
Gold and silver prices on the Multi Commodity Exchange (MCX) opened lower today after gaining over 1% last week. The gold October 5 contract fell by Rs 881 or 0.57% to Rs 1,53,500 per 10 grams from its previous close of Rs 1,54,381.
The silver futures maturing on December 4, 2026 also started in the red, down Rs 1,599 or 0.66% at Rs 2,40,004 against yesterday's close of Rs 2,41,603.
Aamir Makda, Commodity & Currency Analyst, Technical Research, Choice Broking said that the price has made a dip around 153,000 in initial trading; however, it still remains above the 50 and 200-EMAs of hourly charts, placed at 152,914 and 153,207 respectively. Key resistance would be at 154,600 and breakout of this level will boost upward momentum in Gold price.