Gold Price Today 12-04-2021: Resistance for Gold MCX is Rs 46819 and 46932 while the support is at Rs 46394 and Rs 46550

Gold price target 12-04-2021: CapitalVia Investment Advisor said that International Gold and Silver prices are trading with marginal losses as US Treasury yields and the US dollar rebounded from the two weeks low. The Federal Reserve reiterated in its latest policy meeting that interest rates would remain low for some time. Technically, International Gold is trading in a marginal sideways and bearish trend. Prices are sustaining below 50-SMA after testing $1755-$1760 levels in the previous week.

On the domestic front, MCX Gold June opened on a negative note and has been trading in a sideways and positive trend.  

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CapitalVia may expect prices to continue to trade in a choppy manner and resist below Rs 47000 levels during the evening session. The Resistance for Gold MCX is Rs 46819 and Rs 46932 while the support is at Rs 46394 and Rs 46550, highlights CapitalVia.

Like Gold, International Silver is also trading with marginal sideways and negative bias. Prices breached the resistance levels of $25.4-$25.5 last week but could not sustain above them. MCX Silver May opened on a flat note and has trading with marginal positive bias since morning. It traded above 67000 levels after testing the dynamic support of 50-SMA. 

Prices have been trading in a strong bullish trend after testing Rs 62500 levels during the last month. The Resistance for Silver MCX is Rs 67442 and 67698 while the support is at Rs 66376 and Rs 66781, highlights CapitalVia.