Gold, Silver Prices EXPLAINED: Technicals explained by CapitalVia Investment Advisor

Gold, Silver Price Today: At the international level, gold opened on a flat note yesterday and is moving in a sideways and bullish trend, prices are trading weaker yesterday in the morning session and in early afternoon trade in Asia yesterday, which is weighed down by a strong dollar. Investors will look for the clues from the U.S. CPI inflation data for further action.

MCX Gold April gave a gap-down opening and is moving in a sideways trend since the morning session, there is consolidation in prices due to weakness in trend: Reuters

Gold, Silver Price Today: At the international level, gold opened on a flat note yesterday and is moving in a sideways and bullish trend, prices are trading weaker yesterday in the morning session and in early afternoon trade in Asia yesterday, which is weighed down by a strong dollar. Investors will look for the clues from the U.S. CPI inflation data for further action. Technically, LBMA Gold spot remained below the important resistance of $ 1710 - $ 1720, CapitalVia Investment Advisor can see bullishness up to $ 1730 - $ 1740 if this level gets breached with heavy volumes.

On the domestic front, MCX Gold April gave a gap-down opening and is moving in a sideways trend since the morning session, there is consolidation in prices due to weakness in trend tracking weak overseas prices. Prices may test support levels in the range of Rs 44600 – Rs 44420, on the upper side prices may get challenged in the range of Rs 45150 - Rs 45400.

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International Silver opened on a flat note this morning and is moving in a sideways trend since the morning session. LBMA Silver spot is trading below $ 26.00 level, support levels might be tested in the range of $ 25.70 - $ 24.90. MCX Silver May gave a gap-down opening and is moving in a sideways trend since the morning session. CapitalVia Investment Advisor says they expect resistance levels in the range of Rs 68200 – Rs 70100, and prices may get challenged on the lower levels in the range of Rs 66900 – Rs 65300.

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