Gold, Silver trading strategy: Downside support for Yellow metal is Rs 44700 and Resistance is Rs 45650

CapitalVia Global Research highlights the Weekly Technical View on Individual Commodities like Gold and Silver. Detailed analysis will help traders and investors to understand the levels of both these commodities. Gold Spot trading above $1745 levels, After the Fed’s decisions and commentary the U.S. Treasury yields fell sharply, dragging down the U.S. Dollar, this effect is driving up demand for dollar-denominated gold.

Downside support is $ 1675- $ 1700 levels, Resistance is at $ 1740 - $ 1720 levels. MCX Gold April trading with sideways momentum in the entire session, FOMC meeting concluded, in both the statement as well as the words spoken by Chairman Powell made it emphatically clear that the Fed has no intention whatsoever to raise interest rates until 2022, or 2023. Downside support for the metal is Rs 44700. Resistance for the metal is Rs 45650.

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MCX Silver March is showed a negative movement and trade near Rs 67000 levels ,Market participants and traders were exceedingly pleased by FOMC press conference, which sparked a tremendous rally in both U.S. equities as well as gold and silver prices ,but if is sustain above 68000 levels then it is very likely that we will go towards the Rs 69500 level, Downside support is Rs 66500 levels, Resistance is at Rs 70000 levels.