Gold could test Rs 66,500, Silver Rs 85,000 in FY24, charts suggest

MCX Gold is likely to trade with a bullish bias this April as long as prices sustain above Rs 59,800; Pivot point for Silver is Rs 73,800.

The MCX Gold and Silver futures soared to record highs in trades on Tuesday tracking a sharp rally in international markets, after the US dollar dropped to a two-month low amid downbeat economic data points. A sustained fall in Treasury yields to near 3.34 per cent also weighed on the sentiment.

Just couple of trading sessions ago, Gold ended the financial year 2022-23 with a robust 16 per cent rally. For the records, Gold prices ended with gains for the eighth straight financial year. READ MORE

So going ahead and for FY24, here's what the charts indicate for