Price of Gold in India: Gold futures fell on Thursday, October 21, with international trading trading cautiously off prices. On the Multi Commodity Exchange (MCX), gold futures for delivery on December 3 fell 0.22 per cent to Rs 47,390 from Rs 47,499 in the previous session. Silver futures, which are due for delivery on December 3, fell 0.82 per cent to Rs. 65,067.
On Thursday, 24 carat pure domestic gold was priced at Rs 47,586 per 10 grams and silver at Rs 65,444 per kg – both GST (excluding goods and services tax) by the Mumbai-based industry body India Bullion and Jewelers Association (IBJA).
And Opens To 21/10/2021
– IBJA (@ IBJA1919)
Globally, gold prices traded cautiously but managed to maintain profits. Spot gold was up 0.2 percent at $ 1,784.96. US gold futures changed slightly at $ 1,784.60. The US dollar index also changed slightly at 93.612.
What analysts say:
Ravi Singh, Vice President and Head of Research, Share India: “Gold MCX is strong on the day-to-day chart. With the Indian festive season and the start of the wedding season, we can see steady buying in gold and silver. The policy response should be “acceptable. We advise traders to create new long positions in gold and silver on the tips.
He suggested, “Buy Rs 47,400 for Rs 47,650; sell the zone below – Rs 47,200 for Rs 47,000”.
Amit Kare, AVP – Research Materials, Ganganagar Freight Limited: “Yesterday, we saw some safe havens buying low, especially in silver. The overall technical charts of gold and silver are strong. The impetus indicator RSI also cites the same. Therefore, traders are advised to create new long positions in gold and silver in small tanks close to the given support levels. Traders should pay attention to the important technical conditions given below: December Gold Closing Price: Rs 47,499, Support 1 – Rs 47,300, Support 2 – Rs 47,000, Resistance 1 – Rs 47,675, Resistance 2 – Rs 47,900; Price: Rs 65,607, support 1 – Rs 65,200, support 2 – Rs 64,800, resistance 1 – Rs 66,000, resistance 2 – Rs 66,600. “
Manoj Dalmia, Founder and Director, Professional Equities Limited: “Gold’s December contract was as low as Rs 45,770 in the previous month, as is the RSI. And Rs 46,800 regions. “