Gold Price Today: Yellow metal traded high on Tuesday
Gold and silver prices witnessed a marginal hike on the Multi Commodity Exchange (MCX) on Tuesday, with gold futures recording an increase of Rs 261 or 0.53 per cent and were at Rs 49,049 per 10 grams.
Both the precious metals were trading on the higher side.
With the silver futures maturing on July 5, the price stood at Rs 72,500 per kg, witnessing a hike of Rs 701 or 0.97 per cent on Tuesday. On Monday, the prices of precious metals had touched a new high after observing a dip last week.
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While the gold rates stood at Rs 48,542 per 10 grams on May 31, 2021, the silver rates were Rs 71,611 per kg on the MCX.
LBMA Gold Spot trading above $ 1730levels, The U.S. Federal Open Market Committee’s two-day meeting ends on Wednesday. The central bank is expected to reiterate its pledge to keep interest rates pinned near zero until the economy reaches full employment. Downside support is $ 1675- $ 1700 levels, Resistance is at $ 1741 - $ 1760 levels.
MCX Gold April trading with sideways momentum in the entire session, Gold could be building a support base despite the possibility of higher Treasury yields, Downside support for the metal is 44600. Resistance for the metal is Rs 45200.
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Silver MCX Silver March has shown a negative movement and trade near 67000 levels, we await the FOMC announcement on Wednesday. Quite frankly, silver is going to move based upon the movement of the US dollar , but if we break above Rs 67800 levels then it is very likely that we will go towards the Rs 69000 level, Downside support is Rs 66500 levels, Resistance is at Rs 682