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.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Gold Spot trading below $1680 levels, Gold prices moved lower on Tuesday as the dollar gained traction, breaking out to a fresh 4-month high. Since gold is quoted in U.S. dollars, a strong dollar makes gold prices more expensive in other currencies. Therefore, gold prices need to adjust lower. U.S. yields also rose but failed to hold higher levels. Downside support is $1654 level, Resistance is at $1700 level.

See Zee Business Live TV Streaming Below:

MCX Gold June is showed a negative movement and trade below Rs 44500, The higher yields for U.S. Treasury notes and the sharp decline in both gold and silver pricing is a reflection of optimism that the rollout of the vaccine has created hopefulness which can be seen in the consumer confidence index for March, which came in at 109.7. That is up over 20 points from February’s revised numbers, which came in at 90.4. Downside support for the metal is Rs 44000. Resistance for the metal is Rs 45000.

MCX Silver May has shown a negative movement and trade below Rs 63500 levels. silver pricing is a reflection of optimism that the rollout of the vaccine has created hopefulness which can be seen in the consumer confidence index for March, and if it is sustain below Rs 63000 levels then it is very likely that we will go towards the Rs 60000 level, Resistance is at Rs 64000 levels.