Investors will closely watch the US Federal Reserve’s interest rate decision on Wednesday. “It could either be a support to gold or an increased headwind, depending on whether the Fed sort of indicates whether it sees itself potentially keeping policy unchanged for the rest of the year because of the inflationary impacts of the energy crisis,” said Kyle Rodda, a senior financial market analyst at Capital.com.
Internationally, gold has support at $4,710 and $4,681, while resistance is at $4,770 and $4,800 per troy ounce, and silver has support at $74.40 and $72, while resistance is at $78 and $80.40 per troy ounce.
On the , gold has support at Rs. 1,51,650 and Rs. 1,50,500 and resistance at Rs. 1,53,800 and Rs. 1,55,000, while silver has support at Rs. 2,41,400 and Rs. 2,38,000 and resistance is at Rs. 2,47,700 and Rs. 2,51,000.