Gold metal trades above Rs 49,200, may face resistance near 49,330
On December 3 the Gold rose above Rs.49,200 per 10 gm in international spot prices. On the MCX February gold contracts were trading higher by 0.60 percent at Rs 49241 per 10 gram. March silver was trading 0.4 percent higher at Rs 63,631 per kilogram.
Experts are of the view that any dips in the yellow metal will be an opportunity to buy. The next resistance level is seen at Rs 49,330, while support is at Rs 48,720.
Gold extended gains and crossed $1,830 per troy ounce in the international markets. Gold and silver futures contracts had settled mixed the previous day.
Gold February futures contract on the Comex division settled at $1830.20 per troy ounce, while March silver futures contracts settled at $24.08 per troy ounce.
Both the precious metals ended on a positive note in domestic markets. February gold futures contracts settled at Rs 48,947, while March silver contracts settled at Rs 63,325 per kilogram.