Key Points
MCX February gold futures were trading at Rs 62635 at the opening time, up Rs 266 or 0.43% from Monday's closing price..
On Comex, Gold futures were trading at $2,054.40 per troy ounce, up by $12.20 or 0.60% while Silver futures were trading at $24.920, higher by $0.013 or 0.050%..
On the daily chart, December Gold contract has manifested an Outside Bar candlestick pattern, suggestive of an impending reversal or shift in the trend, Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said, adding that the Relative Strength Index (RSI) is exhibiting discernible signs of reversal from the overbought zone, indicative of bearish sentiments gaining prominence...
Meanwhile, Silver futures have declined nearly Rs 755 or 1,347% in value terms in December while gaining by 9.73% or Rs 6,755 on the YTD basis, the commodity and currency analyst said.. Price of gold in major physical bullion markets like Delhi, Ahmedabad and other cities is Rs 63,000 per 10 gram while those of 1 kg of Silver is Rs 78,000...
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