Gold Prices Today: Precious metal may edge up as US consumer confidence dips.
Today’s trend may remain on the upside in bullion, and buying is expected at support levels. Gold has support at Rs 55,500 and resistance at Rs 55,800. Silver has support at Rs 63,900 and resistance at Rs 64,500, said Nirpendra Yadav, Senior Research Analyst at Swastika Investmart.
Gold prices edged lower on Wednesday in the international markets as the dollar ticked up, while investors braced for more US interest rate hikes amid stubbornly high inflation.
Spot gold was down 0.2 percent at $1,824.06 per ounce, as of 0047 GMT. US gold futures fell 0.3 percent to $1,831.30.
At 9:41am, gold was down 0.15 percent on the Multi Commodity Exchange (MCX) at Rs 55,670 for 10 grams, while silver was trading higher by 0.47 percent at Rs 64,083 per kilogram.
