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Gold prices remained stable at Rs. 35,870 per ten gram in Delhi Sarafa Bazar on Thursday. All India Sarafa Sangha has given this information. Silver also remained at Rs 42,300 per kg. However, silver glow has declined in global markets.
Gold Outlook 2019: Factors That Could Support Gold in 2019 – Real rates turn negative: Gold tends to perform well when the inflation rate is higher than the nominal interest rate. Inflation may rise well above interest rates if the US-China trade war escalates, restoring gold’s appeal as a store of value.
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Silver on MCX settled down 0.14% at 40682 as the dollar firmed and investors took profits after prices gained on dovish signals from the U.S. Federal Reserve and is still on course for a second week of gains. Central bankers need to act quickly and forcefully when rates are low and economic growth is slowing, Williams told.
Spot Gold extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.
Spot gold rose 0.3 per cent to $1,422.67 per ounce in intraday trade, after earlier hitting its highest since July 3 at $1,426. The metal gained 1.5 per cent in the previous session. US gold futures jumped 0.9 per cent to $1,424.70 an ounce.
The Gold triangle chart pattern is respecting the shallow Fibonacci re-tracement levels of wave 4 vs 3 which is typical behavior for a wave 4 (blue) pattern.