Gold Silver Reports (GSR) – Silver, too, slumped by Rs 500 to Rs 37,300 per kg owing to reduced demand from industrial units.
Gold Price Today
Gold Prices Fall to 6 Week Low in India
Gold Silver Reports (GSR) – Gold Prices Fall to 6 Week Low in India – Demand in India, the second biggest gold consumer after China, usually picks up towards the end of the year going into the wedding and festival season, when buying the metal is considered auspicious.
Gold Prices Slip for 3rd Day in a Row, Silver Rates Decline
Gold Silver Reports (GSR) – Gold prices had declined by Rs 150 in the past two days. Tracking gold, silver rates also dropped by Rs 100 to Rs 37,800 per kg. Prices of gold of 99.9% and 99.5% purity declined by Rs 50 each to Rs 31,950 and Rs 31,800 per 10 gram respectively. Sovereign gold held flat at Rs 24,800 for piece of 8 gram on scattered support.
MCX Gold Strong Support 30578 any Rise Sell
Gold Silver Reports (GSR ) – A weak dollar boosted investors’ appetite for greenback-denominated commodities. Further, US homebuilder sentiment reported its steepest one-month drop in near 5 years in November, which also kept bullion prices elevated.
Gold Prices Fall For Second Day, Silver Rates Decline
Gold Silver Reports (GSR) – Gold rates today slipped by Rs 100 to Rs 32,000 per 10 grams. Steady global prices capped the fall in domestic gold rates, traders said. Tracking gold, silver rates today fell by Rs 200 to Rs 37,900 per kg, hurt by lower offtake by industrial units and coin makers. Prices of gold of 99.9% and 99.5% purity fell by Rs 100 each to Rs 32,000 and Rs 31,850 per 10 gram, respectively.
Gold Futures Slide on Weak Global Cues – Gold Silver Reports
Gold Silver Reports (GSR) – At the Multi Commodity Exchange, gold prices for delivery in December was down by Rs 77, or 0.25 percent, to Rs 30,802 per 10 gram in a business turnover of 109 lots.
Gold Prices Recover on Global Cues, Wedding Demand
Gold Silver Reports (NBR) – Taking positive leads from the global market and gold wedding season buying by local jewellers and retailers, gold prices recovered by Rs 80 during the week in the bullion market.
Gold Prices Decline, Silver Rates Slump Amid Muted Demand
Gold Silver Reports (GSR) — Traders attributed the sharp fall in silver prices to weak demand from industrial units and coin makers. Prices of gold of 99.99% and 99.5% purity fell by Rs 100 each to Rs 32,050 and Rs 31,900 per 10 grams respectively.
MCX Gold CMP 30900 MCX Silve CMP 36640 Sell 100—500 Lots and So Jaao – MCX King Neal Bhai
Technical Analysis
Gold prices tumbled down to support level which is seen as an upward sloping trend line that comes in near 1,198. A break of trend line support, or a close below this level would lead to a test of the September lows at 1,180. Prices pushed through support near the 50-day moving average at 1,209, which is now seen as short-term resistance. Additional resistance is seen near the 20-day moving average at 1,224. Momentum is negative as the MACD (moving average convergence divergence) histogram is printing in the red with a declining trajectory which points to lower prices. The fast stochastic has tumbled moving lower which reflects accelerating negative momentum. The current reading on the fast stochastic is 9, which is below the oversold trigger level of 20 and could foreshadow a correction.
Gold Prices have fallen about 11%from its April Peak
Gold Silver Reports (GSR) – Spot gold was little changed at $1,209.71 per ounce at 0431 GMT. On Friday, prices fell to their lowest since Oct. 11 at $1,206.13 per ounce. “Higher US interest rates and a stronger dollar are flashing red for gold investors,” said Stephen Innes, APAC trading head at OANDA in Singapore.