Gold price today 21-05-2021: Expert reveals crucial levels, suggests THIS strategy for yellow metal

Gold share price today 21-05-2021: Prithvi Commodities says that Gold and silver traded steady in the international markets on Thursday amid weakness in the dollar index. Both the precious metals were settled on a slightly positive note. Gold June futures contracts were settled at $1881.90 per troy ounce with a minor gain of 0.02% and silver July futures contracts were settled at $28.07 per troy ounce with a gain of 0.17%. Due to strength in the rupee both the precious metals were settled on a slightly weaker note in the domestic markets. Gold June futures contracts were settled at Rs 48544 per 10 gram with a loss of 0.27% and silver July futures contracts were settled at Rs 72304 per one kilogram with a loss of 0.10%.

Prithvi Commodities says that Gold and silver showed extreme volatility on Thursday as traders and investors were debating on the U.S. Federal Reserve remarks during April monetary policy meeting minutes. As a number of FOMC members said for a tapering bond buying program and hike in interest rates when the economy will be on track but not-yet. The dollar index slipped again and supported both the precious metals. However, decline in unemployment claims in the United States to 4,44,000 against previous data of 4,73,000 and rebound in crypto currencies restricts gain in both the precious metals.

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Prithvi Commodities says that expect both the precious metals remain volatile in today’s session ahead of the U.S. flash manufacturing data. Gold is having support at $1872-1858 per troy ounce and resistance at $1892-1902 per troy ounce; silver is having support at $27.70-27.40 per troy ounce and resistance at $28.40-28.70 per troy ounce. At mcx, gold is having support at 48330-48180 and resistance at Rs 48770 – Rs 48920; silver is having support at Rs 71700 – Rs 71400 and resistance at Rs 72700 – Rs 73200 levels. Prithvi Commodities suggests buying in gold on dips around 48250 with a stop loss of 48000 for the target of Rs 48770.