Published on 25/11/2020 1:14:05 PM | Source: Angel Broking Ltd

Yesterday Gold prices closed 1.81% lower at 48,585 levels By Anuj Gupta, Angel Broking

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Below are Views On Yesterday Gold prices closed 1.81% lower at 48,585 levels By Mr. Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking Ltd

“Yesterday Gold prices closed 1.81% lower at 48,585 levels and silver closed 1.49% lower at 59,621 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.  Wall Street’s Dow hit historic highs above 30,000 points in a rally that pulled the three major U.S. stock indexes up by about 1.5% each. 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 48800 levels with the stop loss of Rs 49200 levels for the target of 48300 levels. They can also go for sell  in Silver at Rs 60,000 levels, with the stop loss of 60800 levels and for the target of 58800 levels. Gold may test $1760 to $1785 per ounce levels soon.”


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