Gold is expected to remain stuck in a soft patch on Friday, in line with the global trend, as the US dollarNSE 1.96 % gained traction.
Gold was on track for its first weekly decline in four weeks after its steepest fall in more than seven months in the previous session on a strong dollar, which eyed its strongest gain in three weeks.
On the other hand, crude oil prices higher.
Here's a quick take of SMC Global Securities on how various commodities will behave today.
The bullion counter may show up with a negative bias. MCX Gold is expected to dip further and test Rs 31,500, with resistance near Rs 31,700. Silver can also go lower and test Rs 37,100, facing headwinds near Rs 37,500.
Gold was on track for its first weekly decline in four weeks after its steepest fall in more than seven months in the previous session on a strong dollar, which eyed its strongest gain in three weeks.
On the other hand, crude oil prices higher.
Here's a quick take of SMC Global Securities on how various commodities will behave today.
The bullion counter may show up with a negative bias. MCX Gold is expected to dip further and test Rs 31,500, with resistance near Rs 31,700. Silver can also go lower and test Rs 37,100, facing headwinds near Rs 37,500.
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