Gold price today: Rates decline on rising dollar, bond yields; what should be your strategy for bullion today?

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₹58,245 per 10 grams around 10:45 am. (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Experts expect gold prices to remain weak and see some volatility today due to rising dollar, and bond yields amid the prospects of interest rates going further higher.

Rahul Kalantri, VP of commodities at Mehta Equities expects gold and silver to remain volatile in today’s session. "Gold has support at $1,890-1,879 while resistance is at $1,917-1,928. Silver has support at $22.65-22.52, while resistance is at $23-23.15 In the Indian rupee terms, gold has support at ₹58,250, 58,080 while resistance is at ₹58,580, ₹58,750.

Silver has support at ₹71,100-70,550, while resistance is at ₹72,240–72,750," said Kalantri. Manoj Kumar Jain of Prithvifinmart Commodity Research also expects gold and silver to remain volatile this week amid strength in the dollar index and US bond yields. "Gold has support at $1,910-1,896, while resistance at $1,934-1,945 per troy ounce.

Silver has support at $23-22.84, while resistance is at $23.40-23.66 per troy ounce. On the MCX, gold has support at ₹58,300-58,080 and resistance at ₹58,550-55,8720 while silver has support at ₹71,250-70,700 and resistance at ₹72,200-72,650," said Jain. Jain suggests selling silver around ₹71,900 with a stop loss of ₹72,400 for the target of ₹70,950.

Brokerage firm ICICI Direct believes spot gold may slip to the $1,880 level as long as it sustains below $1,910 (200-day EMA) levels amid a firm dollar. "MCX Gold prices are likely to move south towards ₹58,250 level as long as it trades below the resistance level of ₹58,750 level. MCX Silver is expected to follow gold prices and