Business

Gold and silver futures continued to rise; Gold Metallic Eye Rs 48,000


Gold price today: Gold, silver futures continue to increase;  Gold Metallic Eye Rs 48,000

Domestic spot gold with 24-carat purity opened at Rs 48,210/10 grams.

Gold price in India: Gold and silver futures continue to trade higher on Friday, January 14, taking cues from international spot prices. On the Multi-Commodity Exchange (MCX), gold for February 4 futures was up 0.53% at Rs 47,990, compared with a previous close of Rs 47,736. Silver for March 4 futures futures was 0.52% higher at Rs 62,242 from the previous close of Rs 61,920.

Domestic spot gold with a purity of 24 carats opened at Rs 48,210 / 10 grams on Friday and silver at Rs 61,828 / kg – both excluding GST (goods and services tax), according to The Jewelery and Gold Association is based in Mumbai. (IBJA).

Exchange rate:

Globally, gold prices are set for their biggest weekly gain since November, supported by a weaker dollar and lower Treasury yields, while traders await more data. economic data for clarity on the timing of Federal Reserve cuts. Spot gold rose 0.3 percent to $1,827.34 an ounce, and has added about 1.8 percent this week. US gold futures also gained 0.3% to $1,827.20.

Analyst view:

Amit Khare, AVP – Research Commodities, Ganganagar Commodity Ltd: “Gold and silver prices have been steadily rising for the last 3-4 trading sessions. So there is a possibility of some profit taking at higher levels. The RSI is also quoting the same thing in the hourly chart as well. as daily traders should book profits on the buy side and also create new short positions near certain resistance levels they should focus on the key technical levels given in date: February gold price closes at Rs 47,736, Support 1 – 47,650 Rs, Support 2 – 47,500 Rs, Resistance 1 – 47,900 Rs, Resistance 2 – 48,100 Rs. Silver March closes at 61,920 Rs, Support 1 – 61,600 Rs, Support 2 – 61,100 Rs, Resistance 1 – 62,260 Rs, Resistance 2 – 62,600 Rs.”

Ravi Singh, Vice President and Head of Research, ShareIndia: “Dollar and Treasury yields fell after US inflation rose in line with expectations, keeping gold prices under pressure and opening the door for an early rate hike. Gold and silver are trending strong. on the intraday chart and could break out in the coming sessions.”

He suggested, “Above Buy Zone – Rs 47,800 for a target of Rs 48,100. Sell Zone below – Rs 47,600 for a target of Rs 47,400.”

.



Source link

newsofmax

News of max: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button
Immediate Matrix Immediate Maximum