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Gold Prices Today: Precious metals to remain volatile ahead of US GDP, ADP non-farm data

According to Manoj Kumar Jain, Prithvi Finmart Commodity Research, gold has support at Rs 50580-50350 and resistance at Rs 51000-51220 while silver has support at Rs 66450-66000 and resistance at Rs 67500-68100 levels.

March 30, 2022 / 09:49 AM IST
Representative Image

Representative Image

Gold inched lower on March 30 in the international markets hovering near a one-month low hit in the previous session, as Russia-Ukraine peace talks pointing towards progress dimmed bullion's safe-haven demand, though a weaker dollar and a drop in yields limited losses.

On the Multi-Commodity Exchange (MCX), gold contracts were up 0.36 percent at Rs 50,995 for 10 gram at 9.28 am and silver added 0.32 percent to Rs 67,163 a kilogram.

Precious metals extended losses for the third consecutive day as the Russia-Ukraine peace talk progressed positively. Russian defense ministry announced to scale down military activity in Ukraine. Gold and Silver prices fell more than 2%. However, prices have shown recovery from levels as American government officials did not confirm any sign of seriousness from Russia. Gold has support at Rs 50400 if it holds this level, then a bounce towards Rs 51500 is expected in today's session, said Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart.

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