At 9.30 am, the Multi-Commodity Exchange (MCX), August gold futures were trading at Rs 47,732 for 10 grams, lower by 0.42 percent, according to a report by MoneyControl. The September silver futures were also trading lower by 0.34 percent at Rs 69,061 a kilogram. However, in the international market, the gold and silver prices had closed on a positive note on Friday.
Gold prices fell on Monday withthe rate for 10 gram of 22-carat gold sliding to Rs 46,810 while silver was trading at Rs 69,300 per kg, said reports quoting the Good Returns website.
The price of gold in Delhi is Rs 46,900 for 10 grams of 22-carat gold. The same quantity of 24-carat costs Rs 50,950. In Mumbai, the price of 10 grams of 22-carat gold is Rs 46,810 while 24-carat gold costs Rs 47,810.
In Kolkata, the precious yellow metal costs Rs 47,360 for 10 gram of 22-carat gold while 10 grams of 24-carat gold costs Rs 50,060. The same quantity of 22-carat gold in Chennai is priced at Rs 45,260 while 24-carat gold costs Rs 49,380.
Ten grams of 22-carat gold costs Rs 44,750 in Kerala while the same quantity of 24-carat gold can be bought for Rs 48,820. Gold costs Rs 46,900 per 10 grams for 22-carat in Lucknow where 24-carat gold costs Rs 50,950.
Director, Head-Commodity and Currency Research at Prithvi Finmart Commodity Research Manoj Kumar Jain said that the gold and silver prices are expected to remain volatile this week amid rising tensions between the US and China.
He added that gold has support at 47,700-47,550 at MCX while there is resistance at 48,180-48,440. Speaking about silver, he said that the metal has support at 68,800-68,400 and resistance at 69,800-70,300 levels, reported Moneycontrol.