Gold and silver prices today: Yellow metal finds stability after recent plunge; dollar and US yields rally pauses
The CME Fedwatch tool shows traders are pricing in an 83% chance of the Fed keeping rates steady in March
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The CME Fedwatch tool shows traders are pricing in an 83% chance of the Fed keeping rates steady in March
Taking cues from the global price trends, the MCX April gold futures were trading at 62,258 per 10 grams at 9:10 am, down Rs 58 or 0.09%, and the March Silver contracts were down Rs 45 or 0.06% at Rs 70,435 per kg.
While the MCX April gold futures were trading at 62,900 per 10 grams at 10:30 am, down Rs 65, the March Silver contracts were down Rs 53 or 0.07% at Rs 72,165 per kg.
On the daily chart, MCX April Gold futures have given a breakout of its descending channel forming higher high and higher low while the MACD has given a positive crossover indicating bullish sentiments. Moreover, the 21-day EMA 21 and the 50-day EMA suggest a bullish outlook and RSI is forming a higher high and higher low pattern which adds to her bearish outlook.
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