The demand for gold will enhance through the upcoming festive season, believed jewellers and analysts
Gold Price Today: On the MCX, October gold contracts jumped 16 per cent to Rs 47,246 for 10 grams at 0910 hours on August 20
- Last Updated:August 20, 2021, 09:42 IST
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Gold value in India edged greater on Friday. On the Multi-Commodity Exchange (MCX), October gold contracts jumped 16 per cent to Rs 47,246 for 10 grams at 0910 hours on August 20. Silver, nonetheless traded flat on Friday. The valuable metallic future jumped 0.07 per cent to Rs 62,177 on August 20.
In the worldwide market, gold costs have been flat on Friday. Spot gold was flat at $1,780.43 per ounce by 0056 GMT. US gold futures was little modified at $1,782.40. The greenback index held close to a greater than a nine-month excessive hit on Thursday. Silver rose 0.1 per cent to $23.25 per ounce and was headed for third straight weekly decline. Rising variety of Delta virus circumstances within the United States troubled the buyers all through the week.
“Gold value from previous few days is closing largely unchanged and has caught within the vary of $1770-$1790/oz. Market individuals can be eyeing on upcoming financial symposium which may turn into the brand new catalyst for gold to surge. Gold on MCX can also be discovering its main help on Rs 47,000 and buying and selling with brief time period bullish technical benefit. The outlook is optimistic for valuable metallic notably as a result of heavy selloff in world fairness market and rising circumstances of delta variant globally. Traders are suggested to observe key ranges each the edges and buyers can accumulate gold on each dip. Key degree for gold August Contract – Rs 47,364. Buy Zone Above – Rs 47,365 for the goal of 47,500-47,800. Sell Zone Below – Rs 47,350 for the goal of Rs 47,000-46,800,” said Sandeep Matta, founder, TRADEIT Investment Advisor.
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