Gold falls below Rs 44,600; silver cheaper by Rs 200


New Delhi, Gold Price Today, 30 March: The yellow metal, Gold price dropped below Rs 44,600 on Tuesday (March 30), while the silver metal also went cheaper by Rs 200

Ravindra Rao, VP- Head Commodity Research at Kotak Securities said,“Gold trades weaker, weighed down by sharp rise in US bond yields and firmness in the US dollar amid increasing optimism about the US economy. Also weighing on price is progress on vaccine front and recovery in Chinese equities and weaker investor interest. However, supporting price is rising virus cases and loose monetary policy stance of major central banks.”

Price of gold in the national capital saw a decline by Rs 147 to Rs 44,081 per 10 gram on March 26.

According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities said, ““We expect gold prices to trade sideways to down for the day with COMEX gold prices support at $1,690 per ounce and $1,720 per ounce. MCX Gold June support lies at Rs 44,200 per 10 gram and resistance at Rs 44,900 per 10 gram.”