The bullion counters traded higher in morning deals on Tuesday ahead of a crucial Brexit meeting, as uncertainty loomed over how Britain will leave the European Union.
Officials from Britain and the EU will meet at a make-or-break summit on Thursday and Friday, which will determine whether or not Britain is headed for a so-called no-deal Brexit.
MCX Gold (Dec) futures was trading marginally up at Rs 38,245. MCX Silver (Dec) futures was up 0.25 per cent to Rs 45,918.
Read More : Gold prices Up, But down ₹1,750 from last month highs, Silver Price up
In the international market, gold prices held steady below $1,500 an ounce on Tuesday, as markets braced for talks between Britain and the EU.
Spot gold was flat at $1,492.83 per ounce, as of 0105 GMT. US gold futures were a shade lower at $1,496.90.
On technical charts, spot gold may retest support at $1,479 per ounce, a break below which could cause a fall to $1,456, as per a Reuters analyst.
The support is identified as 38.2 per cent projection level of a downward wave C from $1,516.77. This wave is capable of travelling into a range of $1,418-$1,456.
A retracement on the uptrend from $1,265.85 to $1,557 reveals a target around $1,446, the 38.2 per cent level.
The Wave C is expected to unfold in a falling channel, which points a target around $1,446 as well. Only a break above $1,517 could confirm the continuation of the uptrend towards $1,557.
