Gold Price Today: Yellow metal trades flat, experts say buy on dips for a target of 46,600
Gold was fully marketed up to the Indian market on August 13 after a silenced trend in international place prices on a firm dollar.
In multiple exchange (MCX), the October Gold contracts were negotiated 0.2 percent higher in RS 46,455 for 10 grams at 0930 hours. Silver futures of September were negotiated 0.34 percent higher in RS 62,070 a kilogram.
Spot Gold remained unchanged at $ 1,752.78 an ounce. It is under 0.5 percent, so far, for the week, said a Reuters report. The dollar remained firm about a maximum of more than four months, reached the beginning of this week, which supported the data showed by the prices of US producers published their largest annual increase in more than a decade, the report added.
The prices of gold and silver slid on August 12 after the US PPI data. UU and the highest United States PPI. Both precious metals were established in a weaker note in international markets.
December The Gold Futures Contract was established at $ 1,751.80. A September Future Contract of Troy Ounch and Silver September was established at $ 23.12 an ounce of Troy. Both precious metals were established in a weaker note in national markets.
The increase in the PPI and the main PPI has an impact on the precious prices of metals and the corrected gold after testing its resistance point of $ 1,758 in international markets, experts said.
“The highest PPPs than expected leads consumer inflation and will send a signal to policymakers to maintain a moderate monetary policy for a longer period, we hope that gold prices remain firm, while silver You could also find support at lower levels, “Manoj Kumar Jain, Director, Research of the Repair Chamber and Currency, Prithvifinmart Commodity Research, he said.
In MCX, GOLD has support at 46,100-45,920 and resistance at 46,580-46,800. Silver has support at 61,500-61,100 and resistance at 62,200-62,800. We suggest you buy in gold around 46,150 with a loss of 45,920 for the target of 46,600, he said.
Technical indicators
Expert: Amit Khare, AVP- Research Brass, Ganganagar Limited
Gold and silver are traded in an overweight area. Impulse Indicator RSI has also given a positive divergence in four per hour, as well as graphics per hour.
Traders are recommended to create gold and silver purchase positions near the given support levels. They should also focus on the important technical levels indicated below for the day:
Gold closing price August RS 46,363, support 1-46100, support 2 -45,850, resistance 1-4,6600, resistance 2 – 46,850.septo Silver closure price RS 61,860, support 1-61,200, support 2-60,600 , Resistance 1-62,500, Resistance 2-63,125.
Sriram Iyer, Senior Research Analyst, Reliance Securities
International point and future Gold prices ended up plans to marginally higher on August 12, since expectations of an early series of asset purchases of the Federal Reserve were alleviated, compensating a firmer dollar and yields.
International silver and silver futures prices ended weaker, tracking the driving force. Domestic gold ended up taller, tracking prices abroad, while silver ended up weaker on August 12.
On the national front, the October MCX gold, above 46,100, will continue its bullish impulse up to 46,480-46,600 levels. The support is 46250-46050 levels.
Below 63,000, MCX September Silver could try 61,700-61,000. The resistance is 62,600-62,900 levels.
Ravindra Rao, CMT, EPAT, Basic Product Research VP- in Kotak Securities
Comex Gold was modestly marketed higher about $ 1,756 after decreased 0.1 percent of the previous day. The gold corresponded in the middle of the interruption in the US dollar after recent profits such as mixed inflation readings added to the uncertainty about the monetary adjustment of the Fed.
Also support prices are growing cases of viruses and concerns about the health of the Chinese economy. However, the weight price is the firmness in the actions and the lack of purchase of ETF investors. Gold can be consolidated as the monetary tightening debate of the Fed can maintain pressure on prices.
