Gold support and resistance Key for today: Gold prices pulled back nearly $20 from 7-week highs of $1790 on Wednesday, finishing the day slightly in the red. The rebound in the US Treasury yields triggered the correction in the metal. Bear cross on 1H chart and RSI below 50.00 point to the downside.
USD/INR Price News: Rupee trims gains below 75.00 even as India’s covid cases ease
Gold Prices Today: Gold prices in India slipped today amid softer global rates. On MCX gold futures were marginally lower at ₹47,380 per 10 gram while silver futures edged 0.45% higher to ₹68,635 per kg. In the previous session, gold had hit a two-month high when it rose to ₹47,850 per 10 gram.
Crude oil edged higher toward $64 a barrel, aided by a weaker dollar, as traders monitored a patchwork demand recovery from the pandemic.
MCX Gold Price Target: Gold price Friday settled up by 0.38% at 47353 gaining in strength thanks to another drop in bond yields and a weaker dollar.
MCX Silver Price Target: Silver yesterday settled up by 0.21% at 68684 as retreating U.S. Treasury yields and a softer dollar bolstered the metal’s appeal.