Gold Prices Today: Rising Omicron cases, inflation concerns may lend support
Ravi Singh, Vice President & Head of Research at ShareIndia. • December 30, 2021
The next few weeks would be crucial to decide the severity of Omicron, after the holidays end. Any trigger will prove to be an upper breakout for gold prices, said Ravi Singh, Vice President & Head of Research at ShareIndia.
Gold prices held steady in thin trade on December 29 in the international markets as weaker US Treasury yields countered the impact from a slight improvement in risk sentiment.
Gold has support at Rs 47700-47550 and resistance at Rs 48000-48180 while silver has support at Rs 61500-61300 and resistance at Rs 62220-62700, said Manoj Kumar Jain, Prithvi Finmart Commodity Research.