Mumbai, Nov 18
Gold and silver prices dropped sharply in the domestic futures market on Tuesday morning as hopes of a US Federal Reserve rate cut in December faded and concerns over US tariffs eased.
This reduced the appeal of safe-haven assets like bullion. At early trade, MCX Gold December futures were trading 1.19 per cent lower at Rs 1,21,466 per 10 grams.
MCX Silver December contracts also declined 1.65 per cent to Rs 1,52,750 per kg.
"Gold has support at $4000-3965 while resistance at $4075-4110. Silver has support at $49.70-49.45 while resistance is at $50.75-51.10," market watchers said.