Gold, silver prices fall on MCX as rising Crude Oil weighs on Bullion - Daijiworld

AI desk brief

Gold and silver were sold off on MCX on Oct. 23 as rising crude oil weighed on bullion and prices tracked weaker international cues. Gold futures opened at Rs 1,42,058/10g, hit an intraday low of Rs 1,41,806 and were last at Rs 1,41,894, down 0.99%, while silver December futures fell 3.01% to Rs 1,93,598/kg after a low of Rs 1,92,800.

Internationally, COMEX gold was down 0.73% at about $4,030.90/oz and spot gold was quoted at $4,010.41/oz, off $34.31. A local market participant said Rs 1,43,000–Rs 1,43,700 has flipped from support to immediate resistance, with downside support at Rs 1,40,000–Rs 1,41,000 and then Rs 1,37,500–Rs 1,38,300; RSI near 32 suggests oversold conditions but MACD momentum remains negative.