Gold and silver prices traded higher in future market in early trade on Tuesday amid a decline in crude prices, renewing investors’ interest.
Gold future contract, October 5 expiry, rose Rs 870 to an early high at Rs 1,43,788 per 10 grams as compared to last day’s closing of Rs 1,42,915 on Multi Commodity Exchange (MCX).
Similarly, Silver futures, September 4 expiry, escalated over Rs 3,100 to a high of Rs 2,19,896 per kilogram from last closing of Rs 2,16,746 on MCX.
Last seen, MCX silver was trading at Rs 2,18,989, up Rs 2,243 or 1.03 per cent. MCX Gold was quoted at Rs 1,43,576, up Rs 661 or 0.46 per cent.
“MCX Gold opened on a steady note and is trading near the Rs 143,400 mark, up 0.32 per cent on the day. Immediate support is at Rs 143,000-142,600, while a break below Rs 142,000 could pull the price back toward Rs 141,000-140,600. On the upside, immediate resistance is at Rs 144,000-144,300, and a break above targets the next resistance at Rs 145,300-145,700,” said Ponmudi R, CEO of Enrich Money.