Gold Price Today, 31 March- Gold flat on profit-taking after trading higher; traders eye US PCE data
时间:2024-06-17 18:59:58 阅读(143)
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate is trading flat on Friday, while the silver rate is up 0.31%. On Multi Commodity Exchange, gold April futures were trading at Rs 59,340 per 10 grams, up Rs 2. Silver May futures were trading higher by Rs 22 at Rs 71,994 per kg on MCX.
Globally, the yellow metal prices edged up on Friday, en route to their best monthly performance since July 2020, as the recent banking system crisis led to expectations of a less-aggressive U.S. Federal Reserve, making bullion an attractive bet. Spot gold was up 0.1% at $1,981.59 per ounce. U.S. gold futures rose 0.1% to $1,982.00. Bullion was also set for a second consecutive quarterly gain, up 8.6% so far.
We expect gold and silver to remain highly volatile in today’s session. Gold has support at $1968-1955 while resistance is at $1996-2010. Silver has support at $23.68-23.55, while resistance is at $24.20-24.34. In INR terms gold has support at Rs 59,180-58,850, while resistance is at Rs 59,680, 59,810. Silver has support at Rs 71,120-70,510, while resistance is at Rs 72,490–73,210,” said Rahul Kalantri, VP Commodities, Mehta Equities.
Gold prices gained nearly 1% on Thursday“Gold prices gained nearly 1%, while silver gained more than 2% in the previous session, as weaker dollar and lower bond yields drove demand for the precious metal, while investors kept their eyes peeled for U.S. inflation data to gauge the Federal Reserve’s next move. The dollar index dipped 0.5%, making gold more attractive for overseas buyers, while benchmark 10-year Treasury yields eased, hovering around the 3.5% mark.
“On the data front, market participants were cautious ahead of the US final Q4 GDP data, which was reported at 2.6%, against previous data at 3.2%. The Fed’s favored inflation gauge, core personal consumption expenditures (PCE), is due later today. Investors will be looking for clues about the path of the U.S. central bank’s monetary policy. According to the CME FedWatch tool, markets are pricing in a roughly 50-50 chance of the Fed maintaining rates at current levels at its May meeting. Broader trend on COMEX could be in the range of $1960-1995 and on domestic front prices could hover in the range of Rs 59,500-60,300,” said Manav Modi, MOFSL.
上一篇:Nifty in oversold territory, may stage technical pullback to 17100; Bank stocks could outperform
下一篇:Winning streak ends as consumer, auto stocks drag indices down
猜你喜欢
- Radiant Cash, Sah Polymers, Supriya Lifescience among 42 NSE stocks to hit 52-week low, 43 rises to 52-week high
- Nifty forms bullish candle, indicates tug of war between bulls and bears; buy Reliance Industries, Kotak Bank
- Punjab CM Bhagwant Mann gets hitched to Dr Gurpreet Kaur from Kurukshetra; See photos
- NDTV shares hit upper circuit amid management overhaul
- Multiple headwinds to drive used car sales to grow upto 25% in 2024
- Rating- attractive; Banks see reversal in loan growth trends
- Q3 results preview- Rural demand challenges remain for FMCG firms
- Tata Sons chairman warns of more disruption, volatility in new year
- Mumbai turns Pink! Vikhroli stretch of Eastern Express Highway witnesses gorgeous Pink Trumpet trees – See Breathtaking Photos