Gold, silver trade up to 1 pc lower amid elevated US yields, geopolitical tensions - DT Next

AI desk brief

Gold and silver traded lower in India, with MCX December gold at Rs 1,48,410/10g, down Rs 487 or 0.33%, after an intraday low of Rs 1,48,150 and high of Rs 1,49,034. December silver fell Rs 2,104 or 0.93% to Rs 2,25,338/kg, after touching Rs 2,24,500; the move was blamed on elevated US yields and renewed US-Iran tensions that kept energy prices firm.

Spot gold also weakened after a 4% drop in the prior session to a seven-week low. Near-term bias is cautious: gold faces resistance at Rs 1,50,000-1,50,700, then Rs 1,52,000-1,52,600, with support at Rs 1,48,000-1,47,300 and then Rs 1,46,000-1,45,300; silver is capped at Rs 2,27,000-2,28,000, with support at Rs 2,24,000-2,23,000 and then Rs 2,20,000-2,19,000.