Gold prices in India have corrected sharply from record highs hit earlier this month. In futures markets gold currently trades at ₹51,400 levels per 10 gram as compared to August 7 highs of ₹56,200.
Silver MCX 67500 To 73254 = 5754 Point Up
Gold MCX 51300 To 52100 = 800 Points Up
Gold price rose on Monday the dollar moved lower. Prices were finally able to capture resistance which now supports near the 10-day moving average at 1,949. Target support is seen near the 50-day moving average at 1,889.
Work Hard, Stay Disciplined and Be Patient.
Your Time Will Come
Silver Spot Support Zone $28 — $ 27.48, Target Price $29 — 29.80, September silver futures prices on MCX rose 0.4% to ₹69,135 per kg. In the previous session gold had surged ₹500 per 10 gram while silver had gained about ₹1,000 per kg. Gold prices in India had hit a record high of ₹56,200 on August 7 and since then prices have been volatile in tandem with movement in global rates.
Commodities Weekly Technical Research Report 31 Aug — 04 Sep 2020 – Gold Silver Reports
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Positional Gold Spot Target : Above $1900 Target $2035—$2130—$2182 Gold prices climbed to their highest level in nearly two weeks on Monday, as the dollar weakened and the U.S. Federal Reserve’s new policy framework suggested that interest rates would remain low for some time.
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The rally in gold, which surged to an all-time high two weeks ago, is showing signs of losing steam with hopes for a coronavirus treatment and signs of improving economies undercutting the metal’s appeal as a haven.