Global gold and silver prices rise

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Today's gold prices: Global gold and silver prices rise

Gold prices fell to an all-time low after November 4.

Gold prices in India: The futures of gold and silver rose on Thursday, November 25, taking notes from international spot prices. On the Multi Commodity Exchange (MCX), gold futures for December 3 delivery last rose 0.25 per cent to Rs 47,558 and the previous close was Rs 47,438. Silver futures for December 3 delivery rose 0.68 per cent to Rs 63,062 against the previous close of Rs 62,635.

On Thursday, the price of 24 carat pure domestic gold started at Rs 47,714 per 10 grams and silver at Rs 63,200 per kilo – both rates excluding GST (goods and services tax) by the Mumbai-based industry body India Bullion and Jewelers Association (IBJA).

Forex Rates:

Globally, gold prices have risen as the dollar has depreciated, yet US Federal Reserve policymakers’ hawk comments have reduced the metal’s appeal and kept the key below $ 1,800. Spot gold rose 0.2 percent to $ 1,791.76 an ounce, its lowest level since Wednesday, November 4. US gold futures rose 0.4 percent to $ 1,791.60.

Analyst view:

Ravi Singh, Vice President and Head of Research, ShareIndia: “Prices of Comex gold are down as firm US economic data raises the dollar and the Federal Reserve receives revenue just minutes before the November meeting. Also, the government’s report to raise the GST on gold jewelery to five per cent. We expect the price of gold to remain weak until it reaches the level of .47,700. “

“Buy the zone above – Rs 47,700 for the Rs 48,000 target; sell the zone below for the Rs 47,000 target for Rs 47,300,” he suggested.

Amit Kare, AVP – Research Materials, Ganganagar Commodity Limited: “We are seeing profit bookings in bullion from the last 5-6 trading sessions. Currently the current levels are the best prices for short-term investors. The overall structure of gold and silver is positive according to the technical chart. Short-term investors are therefore advised to create new long-term near the given support levels.They should focus on the key technical levels for the day: December Gold Final Price Rs 47,438, Support 1 – Rs 47,200, Support 2 – Rs 46,900, Resistance 1 – Rs. 47,670, Resistance 2 – Rs.





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