Gold Prices Today: Volatility on cards on macroeconomic concerns; support likely around Rs 47,770-47,650

Gold Prices Today: Volatility on cards on macroeconomic concerns; support likely around Rs 47,770-47,650

Gold has support at Rs 47,770-47,650 and resistance at Rs 48,050-48,220, while silver has support at Rs 62,600-62,100 and resistance at Rs 63,500-64,100, said Manoj Kumar Jain of Prithvi Finmart Commodity Research





January 19, 2022 / 09:57 AM IST





Gold prices stayed flat in the international markets on January 19 near a one-week low hit in the previous session. The US Treasury yields firmed up to two-year highs on hopes of faster interest rate hikes by the Fed.

Benchmark US Treasury yields jumped to two-year highs on Tuesday, as traders prepared for the Federal Reserve to be more aggressive in tackling unabated inflation, ahead of its meeting on January 25-26.

On the Multi-Commodity Exchange (MCX), gold contracts dipped 0.01 percent to Rs 47,921 for 10 grams at 9.32am and silver futures added 0.19 percent to Rs 63,140 a kilogram.

COMEX gold trades little changed near $1,812/oz after a 0.2 percent decline on Tuesday. Gold trades in a range as support from inflation concerns, rising virus spread and geopolitical issues is countered by higher US and global bond yields, firmness in the US dollar and lack of ETF buying. Gold continues to trade in a broad range of $1,780-1,830/oz range and