On the Multi-Commodity Exchange , gold futures dropped 0.04 per cent at Rs 46,853 for 10 grams at 1020 hours IST on June 25.
In the international market, gold prices held steady on Friday as investors awaited US inflation data due later in the day.
“We expect demand for physical gold and silver will remain elevated, not only from traditional investors but also from a wider array of investors seeking a safe-haven option to hedge against market volatility.
Next support is seen at today’s low of $25.865 and then at this week’s low of $25.58,” he added.
So traders are advise to create long position in Gold – Silver near support levels and traders should also focus important technical levels given below for the day: August Gold closing price Rs 46,870, Support 1 – Rs 46,650, Support 2 – Rs 46,500, Resistance 1 – Rs 47,100, Resistance 2 – Rs 47,350. July Silver closing price Rs 67,733, Support 1 – Rs 67,200, Support 2 – Rs 66,600, Resistance 1 – Rs 68,200, Resistance 2 – Rs 68,850,” Khare added.
“International spot gold and silver prices have started flat this Friday morning in Asian trade as markets the release of PCE Index data, which is keenly tracked by the Fed.
“On the domestic front, MCX Gold August is holding a support near 100-DMA which is placed at 46900 levels above which could see an upside move Rs 47,200-47,350 levels.