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Monday, August 31, 2020
Thursday, August 27, 2020
Yellow metal eases all eyes on Jackson Hole meeting
Gold prices in India eased on August 27, tracking a muted trend in the international spot prices as investors waited for Federal Reserve Chairman Jerome Powell's address an important annual conference later in the day.
On the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.13 percent at Rs 51,710 per 10 gram at 0920 hours. September silver futures were trading at Rs 66,975 per kg, down 0.8 percent.
The dollar index fell to a near one-week low against its rivals, making gold less expensive for holders of other currencies.
Experts are of the view that gold and silver will likely remain volatile but strong support for the yellow metal is placed at Rs 51,000.
Gold and silver prices showed extreme volatility on August 26. Gold gained 1.77 percent and settled at $1957.05 per troy ounce and silver gained 4.53 percent to end at $27.46 per troy ounce.
On MCX, gold gained around 2 percent to settle at 51,800 levels, silver was up 5.50 percent at around 67,500 levels.
Silver has support at $26.90 per troy ounce on a closing basis and resistance at $27.80-28.20. On MCX, silver support is at Rs 66,200 on a closing basis and resistance at Rs 68,500-69,200, he said.
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Wednesday, August 26, 2020
Yellow metal trades higher, support seen at Rs 50,500-50,800
India Gold October futures rose on August 26 after falling by about 0.5 percent in the previous trading session. Experts are of the view that the volatility is likely to continue, and the crucial support is placed at Rs 50,500-50,800 per 10 gm.
International Gold prices were mostly unchanged on August 26 as worries over the global economic outlook from rising COVID-19 cases offset an uptick in risk sentiment driven by signs of progress in US-China trade negotiations, said a Reuters report.
On the Multi-Commodity Exchange (MCX), October gold contracts were trading higher by 0.5 percent at Rs 51,183 per 10 gram at 0920 hours. September silver futures were trading at Rs 64,302 per kg, up 0.4 percent.
Gold and silver plunged again on August 25 amid better than expected US new home sales and Richmond manufacturing data. Gold slipped by around 1 percent and settled at $1923.10 per troy ounce and Silver also slipped more than 1 percent and settled at $26.27 per troy ounce.
At MCX, Gold slipped below 51000 during the session and settled around 51000 with a loss of around 0.50 percent and silver settled around 64100 with a loss of around 2 percent.
Gold has support at $1910 per troy ounce and resistance is placed at $1933-1945 per troy ounce. At MCX, gold is having support at 50500 on a closing basis and resistance at 51330-51450 levels,” he said.
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Wednesday, August 19, 2020
Yes Bank share price gains after repaying Rs 35,000 crore to RBI
The bank repaid Rs 35,000 crore to the central bank out of the total special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support, Chairman Sunil Mehta said in the bank’s 2019-20 annual report.
“In addition to the SLF of Rs 50,000 crore extended by RBI, the bank has since then received strong customer liquidity inflows. I am pleased to report that the bank has, as of date, repaid Rs 35,000 crore of SLF. The balance will be repaid within the timelines set by RBI,” Mehta said.
The stock, which has gained over 30 percent in the last 15 days, was trading at Rs 15.60, up Rs 0.57, or 3.79 percent. It has touched an intraday high of Rs 15.69 and an intraday low of Rs 15.34.
“Yes Bank has made significant progress. The bank successfully raised equity funding of Rs 15,000 crore through a follow‑on public offering (FPO) within four months of the restructuring scheme, amid challenging market conditions, towards the end of July,” Mehta said, adding this demonstrates the strong confidence of institutional and retail investors in the bank’s restructuring plan, action taken, future roadmap and professional leadership.
Following this capital increase, the bank’s Common Equity Tier (CET) 1 ratio has doubled to 13.4 percent from 6.6 percent at the end of June, bringing its capitalisation largely in line with the private sector peers, Mehta said.
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Tuesday, August 18, 2020
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Monday, August 17, 2020
Yellow metal eases; support seen at Rs 51,800 per 10 gm
On the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.15 percent at Rs 52,150 per 10 gram at 0915 hours. September silver futures were trading at Rs 67,189 per kg, up 0.03 percent.
A lift in US bond yields gave the dollar some respite after weeks of losses. A stronger greenback makes gold cheaper for holders of other currencies, said a Reuters report.
Gold and silver remained volatile in the week gone by. Gold prices slipped 3.38 percent and settled at $1,949.80 per troy ounce. Silver also plunged 5.26 percent to settle at $26.09 per troy ounce at Comex division.
On MCX, gold slipped 4.68 percent and settled at 52.227 per 10 gram, while silver crashed 9.42 percent and settled at 67,171 per kilogram.
During the week, gold slipped below 50,000 per 10 gram and silver also tested lows of 60,910 per kg. Experts are of the view that the volatility is likely to continue. Crucial support for the yellow metal is placed at Rs 51,800-51,330.
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Tuesday, August 11, 2020
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