Mumbai: Gold prices continued its downfall for the second day in a row. On the Multi Commodity Exchange (MCX), October gold futures slipped by 0.51% to Rs 47,367 per 10 grams. Silver September futures also declined by 0.64% to Rs 63,065 per kilogram.
In the international market, gold prices dipped on Wednesday. Spot gold fell 0.4% to US dollar 1,796.03 per ounce and US gold futures slipped 0.6% to US dollar 1,797.50,
‘Gold and silver prices to remain volatile this week ahead of the Jackson Hole symposium. Gold has support at US dollar 1796-1784 per troy ounce and resistance at US dollar 1822-1834 per troy ounce; silver has support at US dollar 23.55-23.20 per troy ounce and resistance at US dollar 24.20-24.55 per troy ounce’, Manoj Kumar Jain, Director, Head-Commodity & Currency Research, Prithvifinmart Commodity Research, said.
‘At MCX, gold has support at 47400-47180 and resistance at 47800-47950; silver has support at 63100-62500 and resistance at 63900-64400 levels’, he said.