Gold and silver prices are rising on global references


Gold prices today: Gold and silver prices are rising on a global note

24 carat pure domestic spot gold opened at Rs 47,379 per 10 grams on Monday.

Price of Gold in India: Gold futures traded higher on Monday, October 18th. On the Multi Commodity Exchange (MCX), gold futures for delivery on December 3 traded 0.11 per cent higher at Rs 47,265, compared to the previous close of Rs 47,265. Friday futures for delivery on December 3 rose 0.16 per cent to Rs. Was 63,371.

Domestic spot gold with 24 carat purity traded lower at Rs. 47,379 and Rs. 6,3186 per kg of silver – two rates excluding GST (Goods and Services Tax) by the association (IBJA) according to Mumbai-based Indian firm Bullion and Jewelers.

Forex Rates:

Gold rose as US securities yielded and the dollar softened. Spot gold rose 0.2 percent to $ 1,770.26 an ounce. U.S. gold futures rose 0.1 percent to $ 1,770.50. The benchmark U.S. 10-year Treasury yield fell after hitting a high of 1.5904 percent. The dollar index was down 0.6 percent at 93.992.

What analysts say:

Ravi Singh, Vice President and Head of Research, ShareIndia: “Gold imports increased from $ 6.8 billion in April-September 2021 (approximately $ 24 billion annually) according to data from the Ministry of Commerce.

He added, “Buy the zone above – Rs 47,500 target Rs 47,250 and sell below – Rs 47,000 target 46,750.”

Amit Kare, AVP, Research Products, Kanganagar Products Ltd: “Gold and silver showed pre-bookings at the October 15 trading session. In multi-commodity exchange (MCX), December gold contracts closed 1.40% at Rs 47,213 per 10. December contract futures futures per kg. At Rs 63,271, it was down 0.45%. Yesterday, we saw a bullish gain on the bullion, and now both metals are trading in the demand zone again. Traders are advised to take new long positions on silver and pay attention to the key technical levels given below: December Gold Final Price Rs 47,213, Support 1 – Rs 47,050, Support 2 – Rs 46,850, Resistance 1 – Rs 47,520, Resistance 2 – Rs. .47,700. “

He added, “The December Friday closing price was Rs 63,271, support 1 – Rs 62,800, support 2 – Rs 62,200, resistance 1 – Rs 63,710, resistance 2 – Rs 64,335.

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