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Published on 18/11/2020 12:01:33 PM | Source: Angel Broking Ltd

The trend of Gold and silver now become sideways to down and expectation of safe By Anuj Gupta, Angel Broking

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Below are Views On The trend of Gold and silver now become sideways to down and expectation of safe By Mr. Anuj Gupta - DVP- Commodities and Currencies Research, Angel Broking Ltd

“Yesterday, Gold prices closed 0.13% lower at 50,766 levels and silver closed 0.70% lower at 63,248 levels on the back of recovery in global equity market. Development on the front of corona virus vaccine put pressure on gold and silver as the safe haven demand may fade out. Supply also expected to rise in the coming days from the major gold mines as workers may return and resume production of the metal.The trend of Gold and silver now become sideways to 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 50900 levels with the stop loss of Rs 51200 levels for the target of 50400 levels. They can also go for sell  in Silver at Rs 63,600 levels, with the stop loss of 64100 levels and for the target of 62700 levels.”

 

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