Gold Price Today: Spot prices hover near Rs 51,000-mark amid Dhanteras demand

Gold Price Today: Spot prices hover near Rs 51,000-mark amid Dhanteras demand

Gold worth Today: costs of gold across India’s key spot markets opened higher these days amid the joyous demand on the occasion of Dhanteras, analysts aforementioned.

The gap worth for gold of 999 purity was Rs fifty,950 per ten grams, up Rs 248 from Thursday’s terms of Rs fifty,702, whereas that of 995 purity gold was Rs fifty,746, up Rs 247 from Rs fifty,499 on Thursday, in line with the information printed by Asian nation Bullion and Jewellers Association (IBJA).

Likewise, worth for gold of 916 purity was Rs forty six,670, up Rs 227 from Rs forty six,443 which of 750 purity gold was Rs thirty eight,213, up Rs 186 from Rs thirty eight,027. The 585 purity gold was marked at Rs twenty nine,806, up Rs a hundred forty five from Rs twenty nine,661, the information showed.

Dhanteras, thought-about the foremost auspicious day in lunisolar calendar for getting things, starting from precious metals like gold and silver to utensils, is being celebrated for 2 days on Thursday and Friday this year.

Gold futures on the Multi exchange of Asian nation (MCX) too were commerce higher on Friday, in line with the commodities exchange and taking cues from the world benchmark that control firm during a slim vary on Friday.

At 12:40 pm, the gold contract for Gregorian calendar month delivery was commerce at Rs fifty,663 per ten grams, up Rs sixty three or zero.12 per cent from Thursday’s shut of Rs fifty,600. The volumes stood at one,932 heaps whereas the open interest (OI) was at nine,069 lots, information from MCX showed.

According to information by Reuters, the spot gold rose zero.2 per cent to $1,879.11 per ounce by 0601 UT1, whereas the USA gold futures gained zero.2 per cent to $1,877.10.

Kedia artifact Comtrade has suggested a ‘BUY on dips’ on the MCX Gold Gregorian calendar month contract for a two-month read, at Rs 50,000-50,200 per ten grams, with a target of Rs fifty two,000-52,500, whereas keeping a stop loss of Rs forty nine,400.

“If we have a tendency to take Associate in Nursing outlook of Diwali to Diwali, this band of Rs forty nine,000-50,000 is engaging for buying/adding. within the coming back year, gold will reach up to Rs sixty one,000-level as there area unit still considerations over the economy and also the recovery is also gradual. If there’s a correction within the exchange then it will trigger safe-haven shopping for in gold throughout ensuing 6-12 months,” Ajay Kedia, director at Kedia artifact Comtrade told Indianexpress.com.

author

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *