Gold prices surged today after big fall in previous sessionGold and silver prices slid lowerin Indian markets after a sharp drop in the previous session.
Gold futures were up 0.32% at Rs 47,927 per 10 gram while silver moved up0.25% at Rs 69,389 per kg.In the previous session, gold had fell0.83% while silver had slid1.6%.
In international markets, gold rates spikedhigher asUS Treasury yields fell and the dollar softened.
The precious metal was also helped by sluggishglobal equity markets.On MCX, gold rateshave support at Rs 46,200 per 10 gram while faces resistance at48,240, market watchers said.In India, gold has risen about4,000 so far this month, tracking a recovery in global rates."Inability to break the immediate support of $1760 there are chances of recovery upticks which may lead gold prices towards $1820 or more for the day.
At the same time, an unexpected drop below $1725 is a bearish signal," brokerage house Geojit noted.