Gold Prices Today: Yellow metal to draw support from Russia-Ukraine war, unstable equity markets

Gold Prices Today: Yellow metal to draw support from Russia-Ukraine war, unstable equity markets

Despite sharp corrections in gold and silver, gold holds its key support level of $1880 per troy ounce and silver could hold $23.00 and will show positive move in coming days ahead of the marriage season and Akshaya Tritiya early next month, said Rahul Kalantri, VP Commodities, Mehta Equities.





April 26, 2022 / 09:54 AM IST





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Gold on Tuesday firmed above a near four-week low in the previous session in international markets as lower US Treasury yields lifted prices and a slight retreat in the dollar offered support.

At 9.43 am, gold contracts were up 0.18 percent at Rs 51,485 for 10 grams on the Multi-Commodity Exchange (MCX) while silver added 0.47 percent to Rs 65,421 a kilogram.

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Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart

Gold and silver prices continued their downward movement due to the hawkish US Fed outlook. US dollar index is trading near 102 levels on expectation of a 50 basis point rate hike in the upcoming Fed meeting. However, the US 10-year bond yield remained down five percent. On the other hand, a rapid decline in the global economy is expected due to tight monetary policy. Gold