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Gold Price Today 16-03-2021: The precious yellow metal rate rose Rs 160 per 10 gm at MCX (Multi Commodity Exchange) today morning and hit Rs 44,910. The bullions experts are of the opinion that gold has strong support at $1650 per ounce in the international market and at the same time it is facing stiff resistance at $1720 to $1730 per ounce levels. At MCX they advised that gold price is facing resistance at Rs 45,600 per 10 gm levels. Once, the yellow metal manages to break this level, there can be fresh momentum we can witness in the yellow metal rates. Speaking on the gold price outlook in the long-term Amit Sajeja, Vice President — Research at Motilal Oswal said, "In the international market, gold price has strong support at $1,650 per ounce levels. I would advise gold investors to take positional calls when the gold price breaks $1,750 per ounce resistance and sustains above $1,760 per ounce levels. Till then 'buy on dips' is the strategy when gold price falls around $1,660-70 per ounce levels. In gold price MCX terms, one should start aggressive buying if the gold price breaks Rs 45,600 per 10 gm resistance as it would be an indication of gold price bottoming out."
Gold Price Today 12-03-2021: Gold Price MCX (Multi Commodity Exchange) has been losing its shine from September 2020 and in the last week it hit below Rs 44,000 per 10 gm. However, much to the relief of investors, gold has been witnessing some short coverings and has been able to regain some of the lost grounds in recent times. Gold price today at MCX is Rs 79 up at Rs 44,871 per 10 gm. According to bullion experts, gold price has probably bottomed out and advised investors to start accumulating gold till it sustains above $1,650 per ounce in the international market. They also said that there can be sharp recovery in the gold price once it breaks $1,750 per ounce resistance and sustains above $1,760 per ounce levels in the international markets.
Gold price ended with strength on Tuesday. The MCX April Gold Futures were trading around Rs 47,930 per 10 gm at the close, up by almost Rs 91 from the last close on Monday and the trend is expected to remain positive for the day, Expert Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking said. Meanwhile, Silver ended with some weakness on Tuesday. It was trading at Rs 69,576 at the close, down by almost Rs 500. What is expected on Wednesday? Gupta explains what lies ahead for investors on Wednesday and what is supporting Gold and Silver and how inflation will impacts the prices.