MCX Gold, Silver futures may stay rangebound; check key levels here

The MCX Gold futures may seek support around Rs 50,075 this week, whereas Silver futures if sustain above Rs 58,150, can potentially rally towards Rs 60,870-level.

The MCX Gold and Silver futures are likely to remain rangebound in the near term, with a slight downward bias seen on Gold charts, as against an upward bias on the Silver chart. 

Gold

Bias: Rangebound

Last Close: Rs 50,322

Support: Rs 50,075; Rs 49,875

Resistance: Rs 50,500; Rs 50,770

The MCX Gold futures are likely to remain rangebound in the near term, before a decisive trend emerges. The weekly chart indicates a broader trading range of Rs 49,200 to Rs 52550, while the daily chart indicates a Rs 49,725 to Rs 51,870 trading band.

Both, on the daily and the weekly charts, among the key momentum