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Gold and silver trading is expected to remain high on Tuesday before the US Federal Reserve meeting and the Indian Union Budget.
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Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold price is trading flat due to the following global conditions,
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The price of silver is down 0.11%. On majority change, gold in April was trading at Rs 56,996 per 10 grams, down by Rs 51 or 0.09%.
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Silver March futures were trading lower by Rs 74 at Rs 68,515 per kg on MCX. The announcement of which will be made later this week.
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Spot gold rose 0.2% to $1,925.39 an ounce, heading for monthly gains of more than 5%. US gold futures were up 0.1% at $1,940.30.
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That gold and silver will fall before the US Fed meeting and the Indian Union Budget. Gold has found support at $1917-1905 while resistance lies at $1942-1954.
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Silver has found support at $23.52-23.35, while resistance lies at $23.98-24.15. In INR context, gold has taken support near Rs 56,620-56,480,
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While resistance lies at Rs 57,040, Rs 57,210. Silver has taken support near Rs 67,950-67,420, while resistance lies at Rs 69,050-69,480.
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Market participants expect a rate hike of 25 bps earlier this year, although comments from Governor Powell regarding inflation and the growth of the economy will be key to watch.