Domestic spot gold with purity of 24 carats opened at Rs 47,736 per 10 grams.
Gold Price In India: Gold and silver futures climbed on Wednesday, November 24, taking cues from the worldwide spot costs. On the Multi Commodity Exchange (MCX), gold futures due for a December 3 supply, had been final seen 0.28 per cent up at Rs 47,566, in comparison with the earlier shut of Rs 47,434. Silver futures due for a December 3 supply had been final seen 0.67 per cent increased at Rs 62,928 in opposition to the earlier shut of Rs 62,509.
Domestic spot gold with purity of 24 carats opened at Rs 47,736 per 10 grams on Wednesday, and silver at Rs 63,177 per kilogram – each charges excluding GST (items and companies tax), in accordance with Mumbai-based trade physique India Bullion and Jewellers Association (IBJA).
Foreign Exchange Rates:
Globally, gold costs edged increased, although the power within the U.S. greenback and bets that the Federal Reserve might increase rates of interest prior to anticipated saved the safe-haven metallic beneath the important thing $1,800 mark. Spot gold rose 0.2 per cent to $1,792.68 per ounce, after slipping 0.9 per cent to its lowest since November 5 on Tuesday. U.S. gold futures added 0.5 per cent to $1,792.90.
Analyst View:
Ravi Singh, Vice President and Head of Research, ShareIndia: “Gold is still expected to remain in the negative territory for few more trading sessions. All the momentum indicators like RSI, MACD, Moving Averages and Stochastic are showing downtrend in intraday and daily chart. There is also nothing expected this week which may trigger fresh safe haven appeal. We advice investors to remain cautious and avoid taking fresh long position before the sentiments turn around.”
He steered, “Buy Zone above – Rs 47,700 for the target of Rs 48,000; Sell Zone below – Rs 47,300 for the target of Rs 47,000.”
