India Gold April futures plunged more than 1 percent on March 19
despite measures announced by the European Central Bank to mitigate the
economic effects of the coronavirus epidemic.
The spot Gold prices also pared gains after starting on a positive note with a loss of over 1 percent. Gold has fallen quickly from the recent swing high of $1,703 on March 9 to $1,464 an ounce (intraday) on March 19 that translates in a fall of 14 percent.
Experts are of the view that profit booking
in Gold prices is likely to continue, and the yellow metal could find
some support near 38,300 levels, suggest experts.
On the Multi Commodity Exchange (MCX), April gold contracts were trading lower by Rs 546, or 1.3 percent, at Rs 39,177 per 10 gram at 09:20 hours.
Gold and silver prices crashed again on Wednesday after the U.S. dollar catch the safe-haven bid and gained more than 2 percent. The Dollar index crossed 101.50 in an intraday session on Wednesday. Gold breached $1500 and silver also breached $12 per troy ounce levels.
“Gold is expected to be traded in the range of $1450-1532 and silver is expected to be traded in the range of $11.40-12.80 per troy ounce in the international market.
Jain further added that at MCX, Gold prices are expected to be traded in the range of 38,300-40,400 range and silver is expected to be traded in the range of 32,500-35,800.
MCX Tips
Commodity Tips
MCX Tips Provider
For More Info Call 62329-88986 ✆ -0731-4974186
Visit Here: www.thegrssolution.com
The spot Gold prices also pared gains after starting on a positive note with a loss of over 1 percent. Gold has fallen quickly from the recent swing high of $1,703 on March 9 to $1,464 an ounce (intraday) on March 19 that translates in a fall of 14 percent.
On the Multi Commodity Exchange (MCX), April gold contracts were trading lower by Rs 546, or 1.3 percent, at Rs 39,177 per 10 gram at 09:20 hours.
Gold and silver prices crashed again on Wednesday after the U.S. dollar catch the safe-haven bid and gained more than 2 percent. The Dollar index crossed 101.50 in an intraday session on Wednesday. Gold breached $1500 and silver also breached $12 per troy ounce levels.
“Gold is expected to be traded in the range of $1450-1532 and silver is expected to be traded in the range of $11.40-12.80 per troy ounce in the international market.
Jain further added that at MCX, Gold prices are expected to be traded in the range of 38,300-40,400 range and silver is expected to be traded in the range of 32,500-35,800.
MCX Tips
Commodity Tips
MCX Tips Provider
For More Info Call 62329-88986 ✆ -0731-4974186
Visit Here: www.thegrssolution.com
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