Gold Price today 15-04-2021: Expert says buy for a target of Rs 48600 - money making tip

Gold Price today 15-04-2021: Vipul Srivastava: Research Analyst, Metals & Energy Research at Religare Broking says that Gold is gradually gaining charm again after settling on lower levels. In India, physical demand is seen improving where gold imports surged last month to the highest monthly total in nearly two years as consumers are seen taking advantage of the slump in prices. The US dollar and bond yields are witnessing a pause after the recent highs which are positive for the metal. The dollar turned sluggish after the Fed maintained its dovish stance coupled with Biden’s $2 trillion stimulus package. Also, lockdown in European countries has lifted the metal’s safe haven appeal.
 
Religare says that Gold price structure suggests strength is likely to continue in the near term where one can expect prices to move higher towards Rs.47500/10gms level initially and can extend further towards Rs.48600/10gms mark. Moving to downside, Rs.45800/10gms level could be seen as an immediate support for prices, while next key support is available at Rs.45200/10gms mark.
 

See Zee Business Live TV Streaming Below:

CapitalVia Investment Advisors said that Gold prices moved higher on Tuesday, rebounding as the dollar moved lower and yields dropped. The decline in the 10-year yield came despite a larger than the expected headline and core CPI report announced on Tuesday by the Department of Labor. Treasury yields appear to be topping out which could lead to a rally in the yellow metal. Downside support is $1720 levels, Resistance is at $1760 levels. MCX Gold June trading with positive momentum in the evening session, Downside support for the metal is Rs 46300. Resistance for the metal is Rs 47100.