Short-term trend for MCX Gold turns positive; Silver remains negative

This week, the MCX Gold October futures could consolidate in the range of Rs 51,150 to Rs 52,870; Silver futures need to break above Rs 58,835 for gaining strength.

The bias for precious metal commodities seems to have turned mixed, with bulls likely to have the upper-hand for the MCX Gold futures, while Silver futures remain in bears grip. 

Here's what to expect for Gold and Silver futures this week: 

Gold

Bias: Positive

Last Close: Rs 52,301

Support: Rs 51,150

Resistance: Rs 52,870

Gold futures have traded with a positive bias in the recent trading sessions after the US Federal Reserve hike rates earlier this month. 

The MCX Gold October futures are currently seen trending along the higher-end of the Bollinger Band on the daily charts, around Rs 52,270-odd level. Further, the short-term trend for the Gold