MTS Help Center

• Gold prices fell by Rs 52 to Rs 31,685 per 10 grams in futures trade on Monday as participants went for profit-booking at prevailing levels amid a weak trend overseas. In futures trade at the Multi Commodity Exchange, gold for delivery in November shed Rs 52, or 0.16 per cent, at Rs 31,685 per 10 grams in a business turnover of 485 lots.

Analysts attributed the fall in gold futures to profit-booking by traders at the existing level and weakness in precious metals in the global market.

Globally, gold was trading 0.02 per cent lower at USD 1,227.20 an ounce in Singapore on Monday.

U.S. gold futures were up 0.1 percent at $1,229.40 an ounce.

• “So far we are seeing a good recipe for gold prices to recover. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau.

“If the tensions loom large we could see gold rebound through 1,300.”

• “Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near-term,” MKS PAMP Group traders said in a note.

“Supportive price action around $1,210-$1,220 should restrict declines amid current global political uncertainty, while a test through $1,230-$1,235 will likely squeeze further shorts out of the market and see gold toward $1,250.”

• Spot gold may either consolidate further below a resistance at $1,235 per ounce, or break a support at $1,217, to fall to the next support at $1,208, according to Reuters technical analyst Wang Tao.

Among other precious metals, silver was up 0.4 percent at $14.65 per ounce, while platinum rose 0.8 percent at $836.20 per ounce.

Palladium climbed 0.9 percent to $1,089.80 per ounce, closer to an over eight-month peak of $1,096.80 hit on Oct. 11.