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Published on 24/11/2020 11:20:59 AM | Source: Angel Broking Ltd

Gold ETF holding is also falling more than a million ounce in this month By Anuj Gupta, Angel Broking

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Below are Views On Gold ETF holding is also falling more than a million ounce in this month By Mr. Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking Ltd

“Yesterday, Gold prices closed 1.46% lower at 49,480 levels and silver closed 2.63% lower at 60,525 levels on the back of recovery in global equity market and development on the front of corona virus vaccine.  Gold ETF holding is also falling more than a million ounce in this month. In international market Gold is trading at its 4 months low level at $1824 per ounce and silver is trading at $23.41 per ounce. The trend of Gold and silver now become down and expectation of safe haven demand of this asset may fade out. As for today traders can go for sell in gold at Rs 49800 levels with the stop loss of Rs 50100 levels for the target of 49000 levels. They can also go for sell  in Silver at Rs 61,000 levels, with the stop loss of 61800 levels and for the target of 59800 levels. Gold may test $1780 to $1800 per ounce levels soon.”

 

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