Gold share price today 12-05-2021: Prithvi Commodities said that Gold and silver showed mixed trend in the international markets on Tuesday amid rebound in the dollar index from their nine week lows and uptick in the 10-year benchmark bond yields in the United States. Both the precious metals settled on a mixed note. Gold June futures contracts settled at $1836.10 per troy ounce with a loss of 0.08% and silver July futures contracts settled at $27.67 per troy ounce with a gain of 0.65%. Both the precious metals also settled on a mixed note in the domestic markets.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Gold June futures contracts settled at Rs 47633 per 10 gram with a loss of 0.66% and silver July futures contracts settled at Rs 71929 per one kilogram with a gain of 0.54%. Gold showed profit taking from higher levels on Tuesday amid rebound in the dollar index from their lows and gains in the 10-year bond yields. The dollar index held 90 marks and bond yield also crossed 1.60% levels on Tuesday and triggered some profit taking in gold. However, silver prices hold its gains backed by strong gains in the base metal prices. On the other side global stock markets also slipped on Tuesday amid concerns of rising global inflations. The FOMC member Brainard also said that the Federal Reserve remains accommodative on its monetary policy for a longer term, explained Prithvi Commodities..

See Zee Business Live TV Streaming Below:

Prithvi Commodities says it expects weakness in the global equities and inflation fear could support precious metals at lower levels and gold is expected to hold its key support of $1800 per troy ounce. Gold is having support at $1822-1800 per troy ounce and resistance at $1850-1866 per troy ounce; silver is having support at $27.20-26.88 per troy ounce and resistance at $28.00-28.40 per troy ounce. At mcx, gold is having support at Rs 47330 – Rs 47180 and resistance at Rs 47800 – Rs 48055; silver is having support at Rs 71400 – Rs 70900 and resistance at Rs 72500- Rs 73100 levels. 

Prithvi Commodities has suggested buying in gold around Rs 47500 with a stop-loss of Rs 47240 for the target of Rs 48000 and in silver around Rs Rs 71400 with a stop-loss of Rs 70700 for the target of Rs 72600.