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Today’s gold price-dollar depreciation, inflation concerns lift yellow metal on Monday.See Trading Strategy for Remaining Sessions

December gold and silver futures traded on Monday with a positive bias, trading at around 6:40 pm each at 309 rupees. According to analyst Anuji Gupta, the domestic market has been driven by global triggers such as the weak US dollar and global inflation concerns, leading to higher metal prices and a significant rise in Russia’s gold and foreign exchange reserves. connected.

Gold holdings increased 0.14% last month to 73.9 million ounces (2298.547 tonnes), according to Gupta. He said the Central Bank of Russia is steadily diversifying its international holdings and reducing its share of the US dollar in favor of gold and other currencies.

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MCX Gold futures were trading at Rs 48,106 per 10 grams during this period, up 0.65 percent from Friday’s closing price. Meanwhile, MCX silver futures also rose 0.47%, trading at Rs 65,965 per kg.

Gupta, Vice President of Commodity Currency Research at IIFL Securities, recommended the purchase of 47,800 rupees of yellow metal with a stop loss of 47,450 rupees and a target of 48,500 rupees.

For silver futures, we recommend buying for 65,800 rupees with a stop loss of 65,200 rupees and a target of 67,400 rupees.

Meanwhile, brokerage firm Motilal Oswal expects gold and silver to trade in a positive bias for the rest of the session. Supports are placed between Rs 47,800 and Rs 47,500 and resistors are placed between Rs 48,300 and Rs 48,500.

Gold international spot price resistance is $ 1790-1778 and resistance is $ 1810-1820. Gold futures traded at $ 1806.3 at 7:13 pm, up $ 10 or 0.56%.

For silver, support is found at Rs 65,500-Rs 65,000 and resistance is found at Rs 66,600 and Rs 67,200. International spot prices have resistance between $ 24.18 and $ 24. Resistance can be seen from $ 24.70 to $ 25.10.

Silver futures last traded at $ 24.49 at 7:13 pm, rising $ 0.041 or 0.17 percent.



Today's gold price-dollar depreciation, inflation concerns lift yellow metal on Monday.See Trading Strategy for Remaining Sessions

Source link Today's gold price-dollar depreciation, inflation concerns lift yellow metal on Monday.See Trading Strategy for Remaining Sessions

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