Gold prices on spot and futures market could rule marginally lower as data from the US showed that home sales increased in August, point to signs of some recovery in the economy.

The Finance Ministry's officials  meet ended the impasse on gold imports that have been affected since the RBI came up with a notification in July-end. The notification said at least 20 per cent of gold imported into the country should be exported. The decision of the US Fed to defer tapering the stimulus package has brought back some investors to gold.

Over all, MCX Gold October future is consolidate and sustaining around lower levels. So for the coming week 29500/29000 will act as a major support whereas 30500/31000 will act as a major resistance level in MCX Gold October future. For the next week in MCX Gold, trader can use sell on higher level strategy, if MCX Gold October future sustain below the levels of 30000 then it could test the levels 29800 /29500.

Silver futures fell to the lowest level in five-weeks, as investors looked ahead to the conclusion of the Federal Reserve's policy meeting, with many traders expecting the central bank to start tapering the scale of its bond-buying program.

Technically, MCX Silver is sideways and sustaining around lower levels. So, for the coming week 52165/53955 will act as major resistance levels where as 46500/44000 will act as major support in MCX Silver December futures. Last week MCX Silver December futures was sustaining around lower levels. For the next week traders can use sell on higher level strategy, if MCX Silver December futures sustains  below 50000 then it could test the levels of 48488/ 46673.