Spot gold prices in India (Rs. 51360) have increased since yesterday(Rs. 51350). Also, it was above the average gold price observed this week (Rs. 50614.29) by 1.47%.
Gold price pushed above $1,900 an ounce to hit the highest level in almost two months, aided by a weaker dollar, after posting the biggest annual advance in a decade. Silver price also surged on the first full trading day of the new year.
Money managers in Asia are deploying a range of traditional and unconventional strategies to cushion any losses as they brace for turbulence in the lead-up and aftermath of the U.S. presidential election.
Gold’s record-setting rally is set to give wings to the largest initial share sale by an Indian jeweler, helping it overcome tumbling demand in the second-biggest consuming nation.
Silver MCX Today Tips – Watch 43750 to High 44049, Intraday Traders Enjoy.
The central bank announced on Monday that it would stop buying gold starting April 1, but didn’t explain the move. Analysts say Russia already has a lotof gold stashed in reserves and likely doesn’t need more.