Blog for Stock tips, Equity tips, Commodity tips, Forex tips:

Want to beat the stock market volatility? Just keep on reading this exclusive blog by Sharetipsinfo which will cover topics related to stock market, share trading, Indian stock market, commodity trading, equity trading, future and options trading, options trading, nse, bse, mcx, forex and stock tips. Indian stock market traders can get share tips covering cash tips, future tips, commodity tips, nifty tips and option trading tips and forex international traders can get forex signals covering currency signals, shares signals, indices signals and commodity signals.

Gold price today: Yellow metal trades flat, buy for a target of Rs 48,200: Experts

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Gold may witness choppy trade along with the US dollar, however, the general bias remains positive as the US Fed may continue to emphasize the need for lower rates, said an expert

India Gold June MCX Futures trade flat on May 11 following the muted trend in the international spot prices amid rising in the Dollar index.

A rise in the Dollar Index makes gold more expensive for other currency holders. The U.S. currency slipped to a more than two-month low in the previous session after U.S. non-farm payroll data on Friday showed jobs growth unexpectedly slowed in April, said a Reuters report.

On the Multi-Commodity Exchange (MCX), June gold contracts were trading lower by 0.01 percent at Rs 47,946 for 10 grams at 0935 hours. July silver futures were trading 0.18 percent lower at Rs 71,416 a kilogram.

Gold and silver showed mixed trends on Monday. Gold extended gains following weak U.S. data but Silver showed some profit-taking amid weakness in the base metals. Both the precious metals settled on a mixed note in the international markets.

“We expect both the precious metals to remain volatile in Tuesday’s session and gold could approach $1850 per troy ounce levels. Gold has support at $1824-1810 per troy ounce and resistance at $1850-1866 per troy ounce. Silver has support at $27.20-26.70 per troy ounce and resistance at $27.84-28.20 per troy ounce,” Manoj Jain, Director (Head-Commodity & Currency Research) at Prithvi Finmart said.

On MCX, Gold has support at Rs 47,800-47,580 and resistance at Rs 48,055-48,250. Silver has support at Rs 71,100-70,400 and resistance at Rs 72,000-72,700 levels. We suggest buying in gold around Rs 47,800 with a stop loss of Rs 47,580 for the target of Rs 48,200 and in silver around Rs 71,000 with a stop loss of Rs 70,200 for the target of Rs 72,500,” he said.

Technical indicators

Expert - Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices ended flat to marginally higher on Monday as the dollar continued to struggle.

However, the benchmark Treasury yields recovered on Monday and capped upside in gold. Silver gave up all of its gains and ended in the red on Monday.

Technically, MCX Gold June resistances are at Rs 47,988 and 48,343. Supports are at Rs 47,600 and Rs 47,225, said Iyer.

Technically, MCX Silver July resistances are at Rs 72,228 and Rs 72,700. Supports are at Rs 71,380 and Rs 70,970.

Expert - Amit Khare, Commodity research head, GCL Securities Limited

Gold price closed higher on Monday to trade near a three-month peak, owing to positive global cues. On the Multi-Commodity Exchange (MCX), June gold contracts closed higher by 0.42% at Rs 47,951 for 10 grams. July contract silver futures closed on Monday at 0.16% higher at Rs 71,544 a kilogram.

If we talk about its technical, momentum indicators like RSI and moving average are giving positive signals, the daily technical chart is showing strength, so traders are advised to go long for intraday, below are some technical levels for intraday.

June Gold closing price Rs 47,951, Support 1 - Rs 47,700, Support 2 - Rs 47,500,  Resistance 1 - Rs 48,165, Resistance 2 - Rs 48,375.

July Silver closing price Rs 71,544,  Support 1 - Rs 70,800, Support 2 - Rs 70,150, Resistance 1 - Rs 72,250, Resistance 2 - Rs 72,920.

Expert - Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities.

"COMEX gold trades little changed near $1837/oz after a 0.3% gain on May 10. Gold has turned mixed after testing a 3-month high amid choppiness in the US dollar.

The US dollar index turned choppy after hitting Feb low as easing concerns about US Fed's monetary tightening are countered by higher yields and persisting inflation concerns. ETF investors also moved to the sidelines after last week's inflows. Gold may witness choppy trade along with the US dollar, however, the general bias remains positive as the US Fed may continue to emphasize the need for lower rates.

Read Also:- Get Stock Market Tips With High Accuracy