Gold metal falls, but holds above Rs 51,100 and help at Rs.50,800

Gold metal falls, but holds above Rs 51,100 and help at Rs.50,800

On Wednesday the India Glod MCX futures fell down while tracking a muted trend in the international spot price. Investors across the world await monetary policies from Central banks.

According to a Reuters report the  Spot gold was little changed at $1,929.30 per ounce, after falling to a near two-week week low of $1,906.24 on Tuesday.

On MCX October gold contracts were trading lower by 0.4 percent at Rs 51,150 per 10 gram at 0920 hours. September silver futures were trading nearly 1 percent lower at Rs 67,948 per kg.

Experts are of the view that both precious metals are likely to remain volatile. The support for the yellow metal is placed at 51000-50800 levels while on the upside resistance is placed at 51,550-51,800.