Gold has support at Rs 1,22,200 and Rs 1,21,650 and resistance is at Rs 1,23,800 and Rs 1,24,400 while silver has support at Rs 1,54,000 and Rs 1,52,500 and resistance at Rs 1,56,600 and Rs 1,58,000, experts said.

Silver prices also slipped, with MCX Silver December contracts down 0.38 per cent at Rs 1,55,424 per kg. Gold has support at $4035-4000 while resistance at $4115-4140. Silver has support at $50.30-49.85 while resistance is at $51.25-51.50, market experts said.

Traders foresee Indian rupee depreciation as RBI defends near all-time low, impacting bond yields and global risk appetite.