BULLION: support at Rs 60,240-59,950, resistance is at Rs60,650, 60,820: Silver: support at Rs75,020-74,510, resistance is at Rs76,050–76,510

Ahmedabad, 19 April

BULLION: support at Rs 60,240-59,950, while resistance is at Rs60,650, 60,820

Gold and silver prices traded higher on Tuesday on value buying after the recent rounds of selling pressure. A lower U.S. dollar index and a dip in U.S. Treasury yields also favoured the metal prices. We expect gold and silver prices to remain volatile in today’s session. Gold has support at $1988-1976 while resistance is at $2022-2034. Silver has support at $25.00-24.80, while resistance is at $25.42-25.55. In INR terms gold has support at Rs 60,240-59,950, while resistance is at Rs60,650, 60,820. Silver has support at Rs75,020-74,510, while resistance is at Rs76,050–76,510.

USD-INR: resistance around 82.20-82.35 while support is placed at 81.85-81.70

The USDINR 26 April futures contract traded in a tight range. On the daily technical chart the pair crossed its trend-line support level of 82.00. However, MACD is showing a negative divergence and RSI is also fetching below 50 levels on the daily technical charts. As per the daily technical chart, we observed that the pair is trading above its trend-line support level of 82.00. Looking at the technical set-up, RSI is fetching below 50 levels and MACD is also showing negative divergence and could face steep resistance at higher levels. The pair faces resistance around 82.20-82.35 while support is placed at 81.85-81.70.

(Rahul Kalantri, VP Commodities, Mehta Equities Ltd)

(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)

(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ, ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)