Gold, silver futures prices continue to rise; Yellow Metallic Eyes Rs.

Domestic spot gold of 24 carat purity opened at Rs 48,210 per 10 grams.

gold price in india Taking cues from international spot prices, gold and silver futures continued to rise on Friday, January 14. On the Multi Commodity Exchange (MCX), gold futures, due for delivery February 4, were last seen up 0.53 per cent at Rs 47,990 as compared to the previous close of Rs 47,736. Silver futures due for delivery on March 4 were last seen up 0.52 per cent at Rs 62,242 against the previous close of Rs 61,920.

According to Mumbai-based industry body India Bullion and Jewelers Association, domestic spot gold of 24 carat purity opened at Rs 48,210 per 10 grams and silver at Rs 61,828 per kg on Friday – both rates are GST (excluding goods and services tax). (IBJA).

Foreign exchange rate:

Globally, gold prices were set for their biggest weekly rise since November, strengthened by a weaker dollar and lower Treasury yields, while traders asked for clarity on the Federal Reserve’s tapering timeline for more economic data. was waiting for. Spot gold rose 0.3 percent to $1,827.34 an ounce, and is up nearly 1.8 percent this week. US gold futures also rose 0.3 per cent to $1,827.20.

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Amit Khare, AVP – Research Commodities, Ganganagar Commodity Limited: “Gold and silver prices have been rising continuously in the last 3-4 trading sessions. Hence, there is a possibility of some profit-booking at higher levels. Momentum indicator RSI also quoted the same in hourly as well as daily charts. Be advised to book profit on the buy side and also create fresh sell positions near the given resistance levels. They should look at the following key technical levels for the day: February Gold closing price at Rs 47,736, Support 1 – Rs 47,650, Support 2 – Rs 47,500, Resistance 1 – Rs 47,900, Resistance 2 – Rs 48,100. March Silver closing price Rs 61,920, Support 1 – Rs 61,600, Support 2 – Rs 61,100, Resistance 1 – Rs 62,260, Resistance 2 – Rs 62,600.

Ravi Singh, Vice President and Head of Research, ShareIndia: “The dollar and Treasury yields retreated after US inflation turned in line with expectations, putting gold prices under pressure and opening the door for an early rate hike. Gold and silver look strong on intraday charts with more gains to come. Can give breakouts in sessions.”

He suggests “Buy Above Zone – Rs 47,800 with target of Rs 48,100. Sell Below Zone – Rs 47,600 with target of Rs 47,400.”

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