Physical gold price dealers in India charged a premium over official domestic prices for the second week in a row as jewellers stocked up ahead of the festive season.
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Gold prices down ₹5,500 from life time highs, Silver Rates slip
![MCX Gold Target 98,500 Very Very Soon, Buy on Dips [21 April 2025]](https://www.goldsilverreports.com/wp-content/uploads/2020/03/gold-052904-gsr.jpg)
Gold prices and silver prices in India struggled for direction amid muted global rates. On MCX, December gold futures were down ₹50,653 per 10 gram while silver futures edged slightly lower to ₹61,512 per kg.
For Nine years the $1,920 level loomed large for Gold prices, As this was the prior All-Time-High set in 2011
It’s now been a couple of months that the bullish trend in Gold has been on pause; and this comes after an aggressive topside trend had taken-over this summer. After digesting over a two-month pattern from mid-April into mid-June, bulls took over to build a rally that drove for much of the next two months.
Gold prices may gain as Trump, Biden talk up fiscal stimulus
Gold prices are digesting losses after Tuesday’s sharp selloff. That seemed to be inspired by an updated set of global economic growth projections from the IMF. While the fund moderated the depth of the recession it envisions in 2020, the vigor of the recovery in 2021 was pointedly downgraded, registering 0.2 percent lower for worldwide GDP growth.
Gold prices had coiled into a falling wedge pattern but a failed break has muddied the outlook (2020)
Gold prices looked primed for a topside break out last week as it coiled into a falling wedge formation. The pattern was marked by a descending trendline to the topside, derived from the August high, and a trendline on the lower end around the $1,850 mark.
IEA says oil producers may struggle to gauge demand amid second wave
Oil producers – Global oil stocks which rose during the height of the pandemic are being steadily reduced, the International Energy Agency (IEA) said on Wednesday, but a second wave is slowing demand and will complicate efforts by producers to balance the market.
Gold prices gain as focus returns to pandemic, U.S. election
Gold prices firmed on Wednesday as uncertainties over a global economic recovery and the U.S. presidential election prompted investors to exploit a sharp pullback in the previous session to buy bullion.