Gold Silver Rate Today(August 8): Bullion prices mixed in spot, futures gain

On the Multi Commodity Exchange of India (MCX), the gold contract for October delivery was trading at Rs 52,004 per 10 grams, up Rs 130.00 (0.25 per cent) at 1:24 pm while the silver contract for September delivery was at Rs 57,926.00, down Rs 562.00 (0.98 per cent).

In the global market, spot gold was steady at $1,774.80 per ounce, as of 0704 GMT, after dropping 1 per cent in the previous session. US gold futures eased 0.1 per cent to $1,790.40, as per Reuters data.

HDFC Securities’ Retail Research in its weekly report said that it expects gold prices to trade sideways to up in coming week with COMEX spot gold resistance at $1,810 per ounce and support at $1,740 per ounce. At MCX, the brokerage sees October gold prices to have near term resistance at Rs 52,500 per 10 grams and support at Rs 51,200 per 10 gram.

“COMEX Spot silver has near term resistance at $20.90 per ounce with support at $19.20 per ounce. MCX Silver September has important resistance at Rs 60,500 per kg and support at Rs 55,800 per kg,” the report said.