Gold Prices Today: Yellow metal prices to remain volatile ahead of US unemployment data
Manoj Kumar Jain • December 30, 2021
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.
Gold prices steadied above the key $1,800 per ounce level on December 30 in the international markets as a weak US dollar, which makes bullion attractive for holders of other currencies, balanced pressure from firm Treasury yields which erode the metal's appeal.
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.