Gold prices right this moment: Gold and silver prices opened with little motion on the Multi Commodity Exchange (MCX) on Tuesday following a weakening of the US greenback after softer-than-expected US jobs knowledge. Gold June futures dropped barely by Rs 19, or 0.03%, to Rs 71,350 per 10 grams, whereas MCX July silver contracts fell by Rs 72, or 0.09%, to Rs 82,883 per kilogram.
According to ET, gold prices rose by 0.99% yesterday, closing at 71,369, whereas silver prices elevated by 2.36%, closing at 82,955. According to the World Gold Council, world central banks continued to buy gold, including 16 metric tonnes in March, bringing whole acquisitions to 290 tonnes within the first quarter of this 12 months.
Gold prices are additionally receiving help in India as a result of upcoming competition of Akshaya Tritiya, a time when many individuals historically purchase gold.
In the US, spot gold elevated by 1% to achieve $2,324.94 per ounce by 2:00 PM ET (1800 GMT). US gold futures for June supply went up by 0.9% to settle at $2,331.2 per ounce. Today, the US Dollar Index (DXY) was round 105.18, up by 0.13 factors or 0.13%.
Anuj Gupta, head of Commodity & Currency at HDFC Securities, was quoted as suggesting, “We predict that gold and silver prices might transfer to the optimistic facet resulting from demand and weak point within the greenback. Gold might take a look at $2045 to $2050 ranges and silver might take a look at $28 ranges very quickly.”
According to Rahul Kalantri, VP Commodities at Mehta Equities, the help and resistance ranges for gold and silver are as follows:
– Gold has help at Rs 71,120 and Rs 70,880, with resistance at Rs 71,540 and Rs 71,720.
– Silver finds help at Rs 82,340 and Rs 81,780, whereas resistance is anticipated at Rs 83,840 and Rs 84,380.
According to ET, gold prices rose by 0.99% yesterday, closing at 71,369, whereas silver prices elevated by 2.36%, closing at 82,955. According to the World Gold Council, world central banks continued to buy gold, including 16 metric tonnes in March, bringing whole acquisitions to 290 tonnes within the first quarter of this 12 months.
Gold prices are additionally receiving help in India as a result of upcoming competition of Akshaya Tritiya, a time when many individuals historically purchase gold.
In the US, spot gold elevated by 1% to achieve $2,324.94 per ounce by 2:00 PM ET (1800 GMT). US gold futures for June supply went up by 0.9% to settle at $2,331.2 per ounce. Today, the US Dollar Index (DXY) was round 105.18, up by 0.13 factors or 0.13%.
Anuj Gupta, head of Commodity & Currency at HDFC Securities, was quoted as suggesting, “We predict that gold and silver prices might transfer to the optimistic facet resulting from demand and weak point within the greenback. Gold might take a look at $2045 to $2050 ranges and silver might take a look at $28 ranges very quickly.”
According to Rahul Kalantri, VP Commodities at Mehta Equities, the help and resistance ranges for gold and silver are as follows:
– Gold has help at Rs 71,120 and Rs 70,880, with resistance at Rs 71,540 and Rs 71,720.
– Silver finds help at Rs 82,340 and Rs 81,780, whereas resistance is anticipated at Rs 83,840 and Rs 84,380.
