Gold Prices Today: Yellow metal likely to consolidate, support at around Rs 55,480.
Gold has resistance at Rs 56,000 and support at Rs 55,000. Silver has resistance at Rs 66,200 and support at Rs 63,800, says Nirpendra Yadav of Swastika Investmart.
Gold was trading higher in the Indian and international markets on February 24 as the dollar softened and traders awaited economic data due later in the day to gauge the Federal Reserve’s rate-hike stance.
At 10.50 am, gold was up 0.25 percent on the Multi Commodity Exchange (MCX) at Rs 55,725 for 10 grams, while silver was trading lower by 0.09 percent at Rs 64,292 per kilogram.
Spot gold was up 0.1 percent at $1,824.88 per ounce at 0049 GMT after hitting a two-month low in the previous session. US gold futures were up 0.3 percent at $1,831.40.