- Gold traders await cues from this week’s policy meetings of the US Federal Reserve and Bank of England
- Fresh covid-related restrictions in some parts of the world and a weak dollar supported gold
Gold and silver prices edged higher in Indian markets, tracking positive global cues as new coronavirus-related restrictions in some countries lifted the safe-haven appeal of the precious metals. On MCX, February gold futures were up 0.2% to ₹49,035 per 10 gram while silver futures gained 0.26% to ₹63,634 per kg. In the previous session, gold prices had slumped about 0.8% while silver had declined 0.5%. “At MCX, gold February prices have near term resistance at Rs. 50200 per 10 grams and support at Rs. 48500 per 10 gram,” HDFC Securities said in a recent note.