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Published on 11/11/2020 12:47:50 PM | Source: Angel Broking Ltd

Yesterday gold prices increased 1.51% and closed at 50501 levels By Anuj Gupta, Angel Broking

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Below are Views On Yesterday gold prices increased 1.51% and closed at 50501 levels By Mr. Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking Ltd

“Yesterday gold prices increased 1.51% and closed at 50501 levels and Silver prices increased by 3.60% and closed at 63,044 levels.  Increasing demand in china in Q3, 2020 and weakness in dollar as risk assets got a boost on expectations of fewer regulatory changes and more monetary stimulus under U.S. president-elect Joe Biden. As per the China Gold association the gold consumption in China surged to 224.8 tonnes from July to September that represents a 28.71% quarter-on-quarter increase. At the same time, the consumption of gold bars and coins increased by 66.73% quarter-on-quarter to reach 65.54 tonnes. Physical demand also increasing in India on the coming festival season. As for today traders can go for buy in gold at Rs 50,200 levels with the stop loss of Rs 49900 levels for the target of 50800 levels. They can also go for buy  in Silver at Rs 62,400 levels, with the stop loss of 61,700 levels and for the target of 63,600 levels.”

 

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