Gold Prices Today: Yellow metal to feel pressure from higher US bond yield prices, support around Rs 47,650

Gold Prices Today: Yellow metal to feel pressure from higher US bond yield prices, support around Rs 47,650

Gold has support at Rs 47,770-47,650 and resistance at Rs 48,100-48,250 while silver has support at Rs 61,500-61,200 and resistance at Rs 62,300-62,700, said experts.





January 18, 2022 / 10:18 AM IST





Gold prices were flat on January 18 in the international markets as a weaker dollar partially offset pressure from elevated US Treasury yields, which dim the appeal of a non-yielding bullion.

On the Multi-Commodity Exchange (MCX), gold contracts were marginally down 0.08 percent to Rs 47,877 for 10 gram at 9.19am. Silver futures shed 0.24 percent to Rs 61,751 a kilogram.

Prices of precious metals remained range-bound due US market holiday. Gold prices are looking firm and trading at positive territory indicating an upside momentum. Silver is having a 200 EMA support at Rs 61500 on the hourly chart. Gold has support at Rs 47750. Today's trend in gold is likely to remain upside as prices are trading above their crucial support levels, said Abhishek Chauhan, Head of Commodity & Currency at Swastika Investmart.

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Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

COMEX gold trades mixed near $1820/oz holding on to recent gains. Gold remains supported by weaker US