Gold Rate Today: Gold, silver edge higher on high demand

Gold price climbed higher in the domestic futures market on Monday, supported by increased demand by local jewellers at the spot market and firm global trend. 

Gold steadied in global markets on the back of softer US dollar. Dovish signals from the US Fed on rate hikes have weighed on the dollar, giving gold a leg-up. 

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MCX Silver, however, slipped, dragged by reduced orders from industrial units and coin makers at the spot market. 

Around 11:05 am, the MCX Gold was trading at Rs 32,150 per 10 grams, up by Rs 59. 

The MCX Silver was trading Rs 61 lower at Rs 39,137 a kilo at that time. 

Brokerage Motilal OswalNSE -1.33 % Securities sees resistance for MCX Gold capped at Rs 32,230-32,325, while support for the commodity is at Rs 31,900-31,830. 

For MCX Silver, immediate support is at Rs 39,050, whereas resistance is at Rs 39,450-39,530, as per the brokerage. 

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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