On the Multi-Commodity Exchange , August gold contracts were trading 0.19 percent higher at Rs 47,980 for 10 grams at 0930 hours.
Both precious metals settled on a mixed note in the international as well as domestic markets.
“Record rise in the inflation supported the dollar and capped gains of precious metals.
At MCX, gold has support at Rs 47,700-47,550 and resistance at Rs 48,055-4,8220, Jain said.
Support from rising virus cases and choppy equities were countered by weaker ETF interest and slack consumer buying.
If MCX September silver trades above 69,000, we could witness a continuation of the bullish momentum up to 69,900-70,900.