MCX Gold, Silver futures slide; Key levels to watch out this week

Sustained trade below Rs 52,065, can trigger a fall to Rs 51,650 - 51,700 levels on the Gold futures; whereas Rs 57,200 is the key support for Silver futures.

The MCX Gold and Silver futures plunged in early trade on Tuesday, with Gold down around a per cent and Silver down up to 2 per cent, amid disappointing China economic data. Going ahead, here are the key support levels to be watched for the precious metals.

Gold

Bias: Positive

Last Close: Rs 52,579

Support: Rs 52,065

Resistance: Rs 52,600

The overall bias for the MCX Gold October futures remains positive as indicated by the price-to-moving averages action. However, some consolidation at current levels cannot be ruled out as select momentum oscillators were showing signs of tiredness.

Among the key momentum oscillators on the