Gold Price today 15-04-2021: Vipul Srivastava: Research Analyst, Metals & Energy Research at Religare Broking says that Gold is gradually gaining charm again after settling on lower levels. In India, physical demand is seen improving where gold imports surged last month to the highest monthly total in nearly two years as consumers are seen taking advantage of the slump in prices. The US dollar and bond yields are witnessing a pause after the recent highs which are positive for the metal. The dollar turned sluggish after the Fed maintained its dovish stance coupled with Biden’s $2 trillion stimulus package. Also, lockdown in European countries has lifted the metal’s safe haven appeal.
Gold price target 06-04-2021: Anand Rathi Securities Fundamental Analyst Jigar Trivedi says that MCX gold is likely to appreciate during intraday as expectation of a spike in the US inflation has underpinned the metal. He said that yesterday, MCX gold faltered marginally by approximately 0.15% for the June contract and Silver declined by nearly 0.9%.
Anand Rathi said that the ISM Services PMI jumped to 63.7 in March from 55.3 in February, well above forecasts of 59. The reading pointed to the strongest growth in services activity on record due to the lifting of coronavirus pandemic-related restrictions. The market has shrugged off the economic data. However, the dollar slumped to an almost two-week low versus a basket of rival currencies, while U.S. Treasury yields also fell as investors paused recent selling of government bonds.
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