Gold Price Today: Selling pressure is expected in precious metals if prices rise towards resistance levels.
At MCX, gold has support at 47,000-46,800 and resistance at 47,330-47,580; silver has support at 63,100-62,600 and resistance at 63900-64400 levels.
Jain suggests buying in gold on dips around Rs 46,800 with a stop loss of Rs 46,500 for the target of Rs 47,400 and in silver around Rs 62,900 with a stop loss of Rs 62,200 for the target of Rs 64,400
At MCX, Gold has support at 45800-45550 and resistance at 46100-46330; silver is having support at 62200-61700 and resistance at 63100-63600 levels.
Gold has once again corrected after failing to sustain above 1836/oz level but is still holding above $1800/oz level. Gold may remain volatile along with equities however we may see some recovery if US non-farm payrolls data disappoints.
Gold has support at 47,660-47,500 and resistance at 48,000-48,155. For silver, support is at 67,500-67,100 and resistance at 68,200-68,600, say experts
Gold price today: It has support at Rs 47,850-47,660 and resistance at Rs 48,300-48,550; silver has support at Rs 67,500-67,200 and resistance at Rs 68,200-68,600 levels, suggest experts.
Gold has support at Rs 48,055-47,800 and resistance at Rs 48,500-48,720. Silver has support at Rs 67,700-67,100 and resistance at Rs 68,500-69,100 levels, suggest experts.
Gold price today: The metal has support at 47400-47180 and resistance at 47700-47850; silver has support at 65900-65500 and resistance at 66800-67400 levels, suggest experts.
Improved economic outlook, prospects of central bank tightening will prove to be headwinds. But uncertainty on growth, inflation and other tail risks to economic cycle will support gold investment. Investors can buy on dips.
Gold has support at $1,750-1,734 a troy ounce and resistance at $1,774-1,788. Silver has support at $25.55-25.20 a troy ounce and resistance at $26.20-26.55, say experts.
Experts suggest buying in gold around Rs 47,500 with a stop loss of Rs 47,240 for a target of Rs 48,000 and in silver at around Rs 71,400 with a stop loss of Rs 70,700 for a target of Rs 72,600.
The spot gold/silver ratio currently stands at 69.47 to 1 indicating that gold has outperformed silver. While the gold has been steady, silver is pressurised by concerns about the Chinese economy.
MCX Silver March has reached a support zone of Rs 65,000-64,800 where a bounc-back can be expected up to Rs 65,900-66,500 levels.
Experts are of the view that precious metal will be able to hold on to its support but may face resistance near Rs 50,550 levels.
Experts are of the view that both precious metal could remain volatile but should be able to hold on to crucial support levels. Gold may find support near Rs 50,750-50,800 levels.
On the Multi-Commodity Exchange, December gold contracts were trading higher by 0.38 percent at Rs 51,010 per 10 gram.
On MCX, gold could test Rs 49,900-49700 levels again while 50,660 will act as major resistance for gold. Silver could test Rs 59,500-58,800 levels, with 612,00 acting as major resistance.
Experts are of the view that support exists at Rs 50,400 and if gold goes past 50,700, then an upside move towards Rs 51,000 is possible.
Experts are of the view that volatility is likely to remain. The yellow metal could face some resistance around Rs 50,330-50500 on the upside while crucial support is placed at Rs 49,800.
Strength in the Dollar index and uncertainty over the stimulus support from the US Federal Reserves triggered heavy sell-off in both the precious metals
Experts are of the view that although the trend is slightly on the higher side but the yellow metal could face resistance near Rs 50,660 and on the downside support levels are placed at Rs 50,000-49,800.
Experts are of the view that the precious metal could remain volatile and may face resistance in the range of Rs 51800-52000 per 10 gm. On the downside, Gold has support near Rs 51300-51500.
Experts are of the view that both precious metals are likely to remain volatile. The support for the yellow metal is placed at 51000-50800 levels while on the upside resistance is placed at 51,550-51,800.
Despite the Federal Reserve's dovish comments in the July policy meeting, the minutes of which were released on August 19, both the precious metals slipped from higher levels.