Gold and silver prices continue to rise


Today the price of gold: Gold, silver prices continue to rise

Domestic spot gold with 24 carat purity opened at Rs 47,546 per 10 grams on Wednesday.

Price of Gold in India: Gold futures trading continued on Wednesday, October 20th. In futures trading (MCX), gold futures for December 3 delivery rose 0.41 per cent to Rs 47,477 from the previous close of Rs 47,477. Friday futures for December 3 delivery rose 0.51 per cent to Rs. 64,784 as against Rs. 64,450 ago.

Domestic spot gold with 24 carat purity traded lower at Rs. 47,546 and Rs. 64,422 – two rates excluding GST (Goods and Services Tax), the Mumbai-based Indian Bullion and Jewelers Association (IBJA).

Forex Rates:

Globally, as gold prices fell, the brightness of the metal was reduced by increasing U.S. bond yields. Spot gold fell 0.1 percent to $ 1,767.71 an ounce, while U.S. gold futures fell 0.1 percent to $ 1,768.40. The US dollar, which measures the strength of the greenback against the six-coin basket, fell 0.06 percent to 93.67.

What analysts say:

Ravi Singh, Vice President and Head of Research, Share India: “Gold MCX took notes from the global market yesterday and traded in the limited zone. However, volatility was high due to the movement of the US dollar. We expect gold to trade sideways in the coming week. At MCX, gold has a support of Rs 46,900 and resistance Rs 47,650.

He added, “Buy the upper zone – Rs 47,300 target Rs 47,650; sell the lower zone – Rs 46,900 target Rs 46,600.”

Amit Kare, AVP – Research Materials, Ganganagar Freight Limited: “Yesterday we saw some safe havens buying low, especially in silver. Overall gold and silver technical charts are strong. Traders are advised to pay attention to the important technical conditions given below: December Gold Final Price Rs 47,280, Support 1 – Rs 47,150, Support 2 – Rs 47,000, Resistance 1 – Rs 47,400 Resistance 2 – Rs 47,650 December Friday Closing price is Rs 64,450, support 1 – Rs 63,500, support 2 – Rs 62,600, resistance 1 – Rs 65,000, resistance 2 – Rs 65,500. “

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