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Published on 13/11/2020 12:33:30 PM | Source: Angel Broking Ltd

Gold prices increased by 0.86% and closed at 50600 levels By Anuj Gupta, Angel Broking

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Below are Views On Gold prices increased by 0.86% and closed at 50600 levels By Mr. Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking Ltd

“Yesterday Gold prices increased by 0.86% and closed at 50600 levels and silver price increased by 0.32% and closed at 62739 levels as investors feared the economic impact of an accelerating rise in corona-virus infections. U.S. Federal Reserve Chair Jerome Powell said that progress in developing a coronavirus vaccine was welcome news but that near-term economic risks remain as infections accelerate, underscoring the likely need for additional government stimulus. Weakness in Dollar support the gold and silver. Physical demand also increasing in India on the coming festival season. As for today traders can go for buy in gold at Rs 50,400 levels with the stop loss of Rs 50200 levels for the target of 50900 levels. They can also go for buy  in Silver at Rs 62,300 levels, with the stop loss of 61,700 levels and for the target of 63,500 levels.”

 


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