MUMBAI: Gold prices remained largely steady on Wednesday as improving prospects of easing geopolitical tensions between the United States and Iran kept investor sentiment in check.
During early trade, MCX gold May futures were marginally higher by 0.02 per cent at Rs 1, 53, 305 per 10 grams.
Commenting on gold technical outlook, experts said that a sustained move above Rs 1, 55, 000 could revive momentum toward Rs 1, 57, 000-Rs 1, 58, 000.
“On the downside, a break below Rs 1, 54, 000 may lead to a corrective move toward Rs 1, 52, 000 and further to Rs 1, 50, 000, ” an analyst stated.
Silver prices, however, saw stronger buying interest, with MCX silver May futures rising 0.83 per cent to Rs 2, 54, 842 per kg.
“Resistance is placed at Rs 2, 60, 000–Rs 2, 63, 000, with further upside toward Rs 2, 68, 000–Rs 2, 70, 000, ” a market expert said.