August 11, 2023 / 11:42 AM IST

Sensex Today | Rahul Kalantri, VP Commodities, Mehta Equities:

Gold and silver prices ended marginally lower in a choppy trading session on Thursday. The metals were supported by the U.S. consumer price index report that came in a bit tamer than market expectations. However, gains were eroded as the U.S. dollar index edged higher from its early-session lows while U.S. Treasury yields inched up marginally.

U.S. consumer price index was up 3.2% year-on-year, which is slightly below the consensus forecast of 3.3%. The CPI rose 3.0% in the June report. Meanwhile, the weekly U.S. jobless claims report came in a bit higher than expectations.

We expect gold and silver to remain volatile in today’s session. Gold has support at $1900-1888 while resistance is at $1922-1935. Silver has support at $22.51-22.35, while resistance is at $22.84-23.05 In INR terms gold has support at Rs 58,670, 58,450. while resistance is at Rs 59,210, 59,480. Silver has support at Rs 69,410-68,820, while resistance is at Rs 70,540 - 71,040.