Gold Prices Today: Yellow metal to correct amid rising US yields, strong dollar

Gold Prices Today: Yellow metal to correct amid rising US yields, strong dollar

Manoj Kumar Jain of Prithvi Finmart Commodity Research expects gold and silver to show further weakness in today’s session





March 29, 2022 / 09:44 AM IST





Gold, Gold Prices



Gold prices were flat on Tuesday as the US dollar held firm at a three-week high scaled in the previous session and yields climbed, while investors refrained from big bets ahead of Russia-Ukraine peace talks starting later in the day.

On the Multi-Commodity Exchange (MCX), gold contracts were down 0.66 percent at Rs 51,233 for 10 gram at 9.34 am and silver slipped 0.54 percent to Rs 67,734 a kilogram.

Bond yields retreated marginally in the previous session supporting precious metals trading in a range for more than a week. In the previous trading sessions, prices were hovering above the lower range where they may get buying support. Gold has support at Rs 51200 and resistance at Rs 51800 and above this it may move towards Rs 52200 levels. Silver has support at Rs 67500 and its prices may move towards the upper trading range at Rs 69000. Economic data from the US front, Jolts job opening, and CB Consumer Confidence could be key triggers for bullion prices in today's