Key Points
Chair Jerome Powells words that the Central Bank could consider cutting rates in the coming months cheered the markets as yellow metal hit a new peak of $2,152 in international markets on Wednesday...
On Wednesday, MCX Gold April contract closed at Rs 65,199, up by Rs 21 or 0.03% while the May Silver futures settled at Rs 74,200, higher by Rs 62 or 0.08%..
On the Comex, gold futures were trading flat at $2,158.50 per troy ounce on Thursday in the morning trade, up by $0.30 or 0.1% while Silver futures were hovering at $24.390 per troy ounce, lower by $0.103 or 0.420%...
On the daily chart, MCX April Gold contract is exhibiting a pattern of higher highs and higher lows which suggests a bullish trend, Qureshi said, though she warns of RSI, which is currently in the overbought territory, hinting at a potential pullback in prices...
Price of gold in major physical bullion markets like Delhi, Ahmedabad and other cities is Rs 66,000 per 10 grams while that of 1 kg of Silver is Rs 75,500, Gupta said..
You might be interested in
Gold Rate Today: As yellow metal trades at historic highs, is it time to book some profits?
05, Dec, 23MCX February gold futures were trading at Rs 62635 at the opening time, up Rs 266 or 0.43% from Monday's closing price. Meanwhile, the March Silver futures were trading at Rs 76,220 per kg, higher by Rs 52 or 0.07%
MCX Gold, Silver futures likely to exhibit range-bound trade
06, Mar, 23The MCX Gold futures may test near termresistance around Rs 56170 Rs 56250 whereas Silver futures may test Rs 64930 Rs 65300
Bias turns positive; Gold may rally towards Rs 58,700, Silver Rs 70,000
14, Mar, 23The near term bias for MCX Gold April futures is likely to remain bullish as long as the commodity sustains above Rs 57100
MCX gold at all-time highs, difficult to predict future levels, still not overbought; dollar to lose value
05, May, 23MCX gold is trading at an all-time high, making it difficult to predict the next levels. There is further room on the upside as it is still not in the overbought zone.