Gold share price today 30-04-2021: Support at Rs 46300-Rs 46550 and resistance at Rs 46920-Rs 47100

Gold share price today 30-04-2021: Prithvi Commodity said that Gold and silver plunged on Thursday amid rebound in the dollar index and surge in benchmark 10-year bond yield in the United States. Both the precious metals settled on a weaker note on Thursday. Gold June futures contracts were settled at $1768.30 per troy ounce with a loss of 0.32% and silver May futures contracts were settled at $26.05 per troy ounce with a loss of 0.15%. Both the precious metals were also settled on a weaker note in the domestic markets. Gold June futures contracts were settled at Rs 46726 per 10 gram with a loss of 0.78% and silver May futures contracts were settled at Rs 67474 per one kilogram with a loss of 0.46%.

Gold slipped on Thursday in the third straight session amid rebound in the dollar index from seven weeks low and surge in benchmark 10-year bond yields in the United States. 10-year bond yields reached to 1.68% during the session and pushed precious metals lower. The U.S. quarterly GDP numbers were also in line as per expectations and reading comes at 6.4% against expectations of 6.8% and previous reading of 4.3%. Unemployment claims were also declined to 5,53,000 against previous claims of 5,66,000 against the expectation of 5,45,000 claims. On the other hand the Indian rupee also appreciated against the dollar on Thursday and also pressured both the precious metals in the domestic markets, highlights Prithvi Commodity

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Prithvi Commodity expects both the precious metals remain volatile in today’s session and strength in the dollar and bond yield could restrict gains in both the precious metals. Gold is having support at $1755-1744 per troy ounce and resistance at $1784-1800 per troy ounce; silver is having support at $25.78-25.50 per troy ounce and resistance at 26.40-26.70 per troy ounce. At MCX, gold is having support at Rs 46550-Rs 46300 and resistance at Rs 46920 – Rs 47100 and silver is having support at Rs 67100 – Rs 66600 and resistance at Rs 67800 – Rs 68300 levels. Prithvi Commodity suggest buying in silver around Rs 67000 with a stop loss of Rs 66500 for the target of Rs 68200