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Published on 18/09/2020 11:23:18 AM | Source: Angel Broking Ltd

MCX Gold closed 0.72%% lower at 51453 levels By Mr. Anuj Gupta, Angel Broking Ltd

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Below is the Views On MCX Gold closed 0.72%% lower at 51453 levels By Mr. Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking Ltd

“Yesterday gold and silver prices were closed on a negative note. MCX Gold closed 0.72%% lower at 51453 levels and silver prices closed 0.93% lower at 68142 levels.  In international market gold is trading at $1951 per ounce and silver is trading at $27.03 per ounce. Weakness is dollar on the back of Federal Reserve pledged to keep interest rates low for a long time but stopped short of offering further on stimulus to shore up a battered U.S. economy and they are also hold interest rates till 2023 with inflation never breaching 2% over the period. This is a positive for gold and silver in longer term as traders can park their money in safe heaven assets like Gold. As for today traders can go for buy in gold at Rs 51,200 levels with the stop loss of Rs 50,700 levels for the target of 51,900 levels. They can also go for buy in Silver  at Rs 68,000 levels, with the stop loss of 67,000 levels and for the target of 69,800 levels. In the Bullion index “Bulldex” traders can also go for buy at 16000 with the stop loss of 15850 and for the target of 16250. In international market gold may test $2000  per ounce and silver may test $ 28.50 per ounce soon.”

 

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