Gold Price today 19-04-2021: Expert says rates may dip till Rs 47600-Rs 47500 levels

Gold Price today 19-04-2021: CapitalVia Investment Advisors said that International Gold and Silver prices are trading with gains as US Treasury yields and the US dollar weakened, lifting the precious metals’ appeal. The US Federal Reserve has reiterated its commitment to maintain accommodative monetary policy until the crisis is resolved. Some investors view gold as a hedge against higher inflation that may occur as a result of stimulus measures.

Technically, International Gold is trading with bullish momentum. Prices traded at $1790 levels for the first time in more than a month. On the domestic front, MCX Gold June opened on a flat note and has risen more than 400 points since morning. CapitalVia expects a dip in prices till Rs 47600 – Rs 47500 levels in the upcoming session, which could act as a buying opportunity for the traders. Support is at Rs 47350 – Rs 47200 levels.

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Trading strategy on Gold:

CapitalVia says that MCX Gold price has a support around Rs 47144 and Rs 47449 and Resistance is at Rs 47955 and Rs 48156. The price trend on Gold is Bullish.

Like Gold, International Silver is also trading with bullish momentum. Prices are sustaining above the support of $25.7-$25.8 levels and we may witness bulls to dominate upcoming sessions as well. MCX Silver May gave a gap down opening but has been trading with positive bias above Rs 69000 levels. CapitalVIa may expect a marginal fall in prices till the levels of Rs 68850 – Rs 68600 in the evening session after which bullish momentum may continue.

Trading strategy on Silver:

CapitalVia says that MCX Silver price has a support around Rs 67627 and Rs 68426 while Resistance is around Rs 69702 and Rs 70179. The price trend on Silver is Bullish.