Gold, silver up in morning trade

Strong demand from local jewellers at the spot market and positive sentiment overseas pushed gold and silver prices higher in the domestic futures market on Monday.

Around 10:45 am, the Gold was trading at Rs 30,420 per 10 grams, higher by Rs 180, where as the Silver was trading at Rs 35,660 per kilo, up by Rs 513.

Gold prices rose in the global markets also as a trade truce between the US and China boosted investor sentiment.

“Gold may trade range bound for the session. The support for the commodity is at Rs 30,160-30,040, whereas the resistance is at Rs 30,380-30,465,” Motilal Oswal Securities said.

“Silver may see an intraday upside and could target Rs 36,550-36,750. The short-term support is at Rs 35,900 and buying around Rs 36,300-36,200 is advised for the session,” the brokerage said.

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