Market experts said some buying by jewellers and investors is supporting the precious metal. The yellow metal was trading 0.12 per cent, or Rs 33, higher at Rs 27,197 per 10 gm around 10.45 am.
Silver was down 0.22 per cent, or by Rs 89, at Rs 39,605 per 1 kg due to less offtake from industries. MCX gold settled 0.48 per cent, or Rs 131, higher at Rs 27,150 per 10 gm in the previous trading session, while silver closed 1.06 per cent, or Rs 417, up at Rs 39,712 per 1 kg.
Rohit Gadia, Founder & CEO, CapitalVia Global Research, said: "Rs 27,100 and Rs 26,700 per 10 gm levels will act as crucial support for gold whereas Rs 27,400 and Rs 27,700 per 10 gm levels will act as major resistance levels for the yellow metal."
On a year-to-date basis, gold prices have surged nearly 8 per cent till date, whereas silver has rallied 18 per cent during the same period.
Rajesh Iyer, Head of Investment Advisory Services & Family Office, Kotak Wealth Management, said: "Gold witnessed a lot of volatility in 2016 due to global events such as Brexit, US elections and anticipation of an interest rate hike by the US Fed."