India Gold August Futures eased from 48,000 per 10 gm on June 26 following positive trend in equity markets, but rising number of COVID-19 cases is likely to support safe-haven buying, suggest experts.
On the Multi-Commodity Exchange (MCX), August gold contracts were trading lower by 0.04 percent at Rs 47,921 per 10 gram at 09:20 hours. July futures for silver were trading 0.10 percent lower at Rs 48,066 per kg.
Gold and silver prices settled on a mixed note on Thursday taking a clue from U.S. economic data. Gold settled slightly weak at $1770.60 per troy ounce, while Silver settled on a positive note at $17.89 per troy ounce.
In the domestic market, both the precious metals settled on a mixed note. Gold slipped around 0.50 percent and closed below 48000 per 10 gm while Silver gained around 1 percent and settled around 48150 levels.
International prices have started flat June 26 morning in Asian trade. Traders will be better off buying the yellow metal on dips for both Gold and Silver. Crucial support is placed at 47,600 while a close above Rs 48,080 could resume bull run, suggest expert.
The surge in fresh COVID-19 cases kept downside limited, however rebound in the US Dollar kept upside limited. China is on a holiday on Friday and a lack of major trigger points could keep prices in a small range and tracking the equity markets.
More Information Visit
India Gold August Futures eased from 48,000 per 10 gm on June 26 following positive trend in equity markets, but rising number of COVID-19 cases is likely to support safe-haven buying, suggest experts.
On the Multi-Commodity Exchange (MCX), August gold contracts were trading lower by 0.04 percent at Rs 47,921 per 10 gram at 09:20 hours. July futures for silver were trading 0.10 percent lower at Rs 48,066 per kg.
Gold and silver prices settled on a mixed note on Thursday taking a clue from U.S. economic data. Gold settled slightly weak at $1770.60 per troy ounce, while Silver settled on a positive note at $17.89 per troy ounce.
In the domestic market, both the precious metals settled on a mixed note. Gold slipped around 0.50 percent and closed below 48000 per 10 gm while Silver gained around 1 percent and settled around 48150 levels.
International prices have started flat June 26 morning in Asian trade. Traders will be better off buying the yellow metal on dips for both Gold and Silver. Crucial support is placed at 47,600 while a close above Rs 48,080 could resume bull run, suggest expert.
The surge in fresh COVID-19 cases kept downside limited, however rebound in the US Dollar kept upside limited. China is on a holiday on Friday and a lack of major trigger points could keep prices in a small range and tracking the equity markets.
More Information Visit
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