“I think most markets overreacted as (the deal) is still a work in progress, and anything could unravel. Nevertheless, we saw enough dollar weakness to propel gold prices higher. Lower Treasury yields also boosted gold,” said Edward Meir, an analyst at Marex.
Internationally, at $4,634 and $4,580 while resistance is at $4,740 and $4,800 per troy ounce. Silver has support at $75.50 and $72.40, while resistance is at $80 and 82.40 per troy ounce.
On MCX, gold has support at Rs. 1,51,500 and Rs. 1,50,700 and resistance at Rs. 1,53,150 and Rs. 1,54,200, while silver has support at Rs. 2,49,100 and Rs. 2,45,500 and resistance at Rs. 2,58,000 and Rs. 2,61,000.