Domestic spot gold with 24-carat purity opens at Rs 48,080/10 grams.
Gold price in India: Gold and silver futures traded higher on Thursday, January 13, taking cues from international spot prices. On the Multi-Commodity Exchange (MCX), gold futures for February 4 futures were up 0.18% at Rs 47,893, compared with a previous close of Rs 47,808. Silver for March 4 delivery was 0.27% higher at Rs 62,024 from the previous close of Rs 61,856.
24-carat domestic spot gold opened at Rs 48,080 / 10 grams on Thursday and silver at Rs 61,729 / kg – both with prices excluding GST (goods and services tax) , according to the Mumbai-based Jewelery and Gold Association. (IBJA).
#Yellow and #Silver Opening #Price for January 13, 2022#IBJApic.twitter.com/UHwyjKjXQG
– IBJA (@ IBJA1919) January 13, 2022
Exchange rate:
Globally, gold prices held near one-week highs in the previous session, as the US dollar and Treasury yields fell after inflation data matched expectations and reiterated the need for a quick rate hike. than. Spot gold was flat at $1,825.82 an ounce. US gold futures were also unchanged at $1,826.50.
Analyst view:
Ravi Singh, Vice President and Head of Research, ShareIndia: “For the time being, momentum indicators like the MACD, RSI and MA are showing an uptrend in the intraday and daily charts. This trend could continue and gain strength on a breakout above the level. 48,000.”
He suggested, “Above Buy Zone – Rs 48,000 for a target of Rs 48,500. Sell Zone below – Rs 47,600 for a target of Rs 47,400.”
Amit Khare, AVP – Research Commodities, Ganganagar Commodity Ltd: “According to the daily technical chart, gold and silver are in a strong uptrend. The RSI is also quoting the same thing in the hourly as well as the daily chart. Therefore, traders should create long positions. New long positions near certain support levels They should focus their important focus on technical levels given during the day: February Gold closes at Rs 47,808, Support 1 – Rs 47,650, Support 2 – Rs 47,500, Resistance 1 – 47,950 Rs, Resistance 2 – Rs 48,100 Silver March Closing Price Rs 61,856, Support 1 – 61,300 Rs, Support 2 – 60,800 Rs, Resistance 1 – 62,350 Rs, Resistance 2 – 63,000 Rs.”
