Gold edged lower after the Federal Reserve kept its monetary policy unchanged without promising any more aid, supporting the dollar and putting bullion on course for the worst start to a year in a decade.
Gold prices have had a tough start to the New Year, with price action proving haphazard. Volatility hasn’t exploded or collapsed, leaving gold prices adrift, easily succumbing to the cross-currents presented by other asset classes, politics, fiscal stimulus speculation, and monetary policy.
MCX Gold Silver Tips for Today – Hit Full Target Enjoy. After posting gains of over 25% in 2020, gold prices have suffered wild swings from the start of this year. After hitting a high of ₹51,800 per 10 gram last Tuesday, gold futures on MCX fell to ₹48,635 at day’s low today. On Friday, gold had tumbled ₹2,050 per 10 gram while silver had tanked ₹6,100 per kg. Last August, gold had hit a record high of ₹56,200 per 10 gram.
Gold Silver Positional Tips Rocking Enjoy Blast Bullion Market. The dollar to rupee conversion today improved to Rs 72 as compared to previous close of Rs 73. The fall of dollar against rupee might influence gold’s rate today reflecting a lower gold price in the domestic markets.
Intraday MCX Gold Tips Rocking 50150 to 50336, Full Target Hit. Gold prices in India rallied 28 per cent in rupee terms so far in the year 2020, following a double-digit gain in the previous year.
The average ticket size of silver and gold jewellery sale rose 16% in November compared to the previous month despite gold prices hitting record levels, according to a report.