Gold Price Today: Rates are jumping amid the fear of trade war; RBI MPC in focus; Experts emphasize key levels for MCX Gold | Einsmark news

Gold Price Today: Gold rates rose significantly in the domestic futures market on Tuesday morning, as investors rushed to the safe Haven assets amid the prevailing fear that a trade war between the US and its allies will lower the global economy. MCX Gold June 5 contracts traded 0.70 percent higher at £ 87,533 per 10 grams at about 09:10. International gold prices are also trading higher amid greater concerns over the global trade war. Comex Gold jumped over a percent during the session. MCX gold prices suffered a healthy setback on Tuesday after seeing a loss of 1.30 percent. Investors are slowly discounting the impact of a trade war on the global economy. As US President Donald Trump has not shown any signs of supporting his tariff plans, investors believe that the trade war will only increase forward, creating tremendous economic uncertainty. Gold prices tend to earn in times of economic uncertainty. A further factor is to support gold prices at the current time, the expectation of a faster rate reduced by the US Federal Reserve is, as the tariff war is expected to lead the US economy to a recession. Investor focus is also on the monetary policy of the Reserve Bank of India (RBI). Most experts expect the RBI MPC to announce a cut of 25 bps on April 9. Experts emphasize the most important levels of MCX gold and silver according to Manoj Kumar Jain of Prithvifinmart Commodity Research, Gold has support at $ 2,940-2,922, while resistance to $ 3,000-3,80,80,80,80, while resistance to $ 29.20-28,80 per Troy Ounce in today’s session. MCX Gold has support at £ 86,440-86,000 and resistance to £ 87,500-88,000, while Silver has support at £ 87,350-86.500 and resistance to £ 89,400-90.650, says Jain. Jian suggests you buy silver above £ 88,500 with a stop loss of £ 87,600 for the target of £ 90,500. Rahul Kalantri, VP of commodities at Mehta Equities, said gold supported $ 2,978-2.955 and resistance to $ 3,040-3.065. Silver has support at $ 29,70-29.45 and resistance to $ 30.40-30.65. In INR, Kalantri said gold supported £ 86,760-86.350, while resistance to £ 87.610-88.190. Silver has support of £ 87,700-87.050 while it is resistant to £ 89,200-89.950. Read all market -related news here read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or brokerage companies, not coin. We advise investors to check with certified experts before making investment decisions, as market conditions can change quickly, and conditions can vary.