Gold price today: Rates jump on Israel-Hamas war escalation fears; what should be your strategy for bullion today?

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₹59,608 per 10 grams around 10 am. Also Read: IRM Energy IPO: Check GMP today, subscription status, should you subscribe? (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Manoj Kumar Jain of Prithvifinmart Commodity Research expects gold and silver to remain volatile this week.

He believes gold prices could hold $1,884 per troy ounce and silver prices could also hold $21.80 per troy ounce levels. Jain suggests buying on dips strategy in gold and silver. "Gold has support at $1,922-1,910, while resistance at $1,945-1,958 per troy ounce.

Silver has support at $22.84-22.55, while resistance is at $23.20-23.55 per troy ounce," said Jain. "On the MCX, gold has support at ₹59,000- ₹58,880 and resistance at ₹59,400- ₹59,550 while silver has support at ₹71,000- ₹70,550 and resistance at ₹72,000- ₹72,800. We suggest buying on dips in gold and silver targeting gold for ₹60,000 and silver for ₹72,8000 in the very short term," said Jain.

Also Read: Oil ticks higher ahead of Biden's Israel trip as traders await pause on escalation of war; Brent at $90/bbl Brokerage firm SMC Global Securities expects gold may trade in the range of ₹59,000- ₹59,500, and silver may trade in the range of ₹70,800- ₹71,600, with sideways to bullish bias. According to the brokerage firm IIFL Securities, gold has support at ₹58,980, and a drop below that could test ₹58,750. Resistance is expected at ₹59,460, and a breakout could push prices to ₹59,710, IIFL Securities said.