Indian Rupee today: The domestic currency began the session 3 paise higher at 85.97 on Friday, after closing at over a month's low on Thursday
Indian Rupee today: The domestic currency closed at 85.64, the same level it ended yesterday against the greenback
With multiple factors, viz geopolitical and economic risks supporting silver, the white metal may extend its gains
Gold is well supported in a risk-off scenario due to geopolitical and economic issues
The domestic currency depreciated 1 paise to open at 85.65 after closing at 85.64 against the greenback on Tuesday
The domestic currency depreciated 23 paise to end at 85.63 after closing at 85.40 against the greenback on Monday
The domestic currency opened 8 paise lower at 85.48 after closing at 85.40 against the greenback on Monday
The domestic currency opened 8 paise higher at 85.44 after ending at 85.52 against the greenback on Friday
The near-term outlook is somewhat bearish unless we see a strong and sustainable recovery in industrial commodities, says Praveen Singh
As traders remain hopeful about further improvement in the global trade scenario, upside in the metal may be limited in the near term, says Praveen Singh
The metal may test $3372-$3400 resistance zone. Upside is likely to be capped at $3400 in the short-term
Silver is up nearly 17 per cent since its cycle low of around $28.15 made on April 4. Although it is lagging gold, it is up around 14 per cent year-to-date (Y-T-D)
On April 24, spot gold traded between $3,288 and $3,367 as the metal recouped some of its huge loss that occurred due to sell-off on April 22 and 23
Spot gold surged solidly higher on safe haven demand as trade war intensified with the Trump Administration looking into imports of computer chips, chip making equipment and pharmaceuticals
Oil prices: The 90-day relief on reciprocal tariffs could see crude oil prices edging a bit higher towards $65. However, overall, we expect prices to trade range bound between $65-$58
Oil has dropped 20% to a four-year low since Trump took office-but that still doesn't make it a bargain
Support is at $2947 (MCX June contract ₹86,300) /$2900 (₹85,000). Resistance is at $3050 (₹89,300)/$3100 (₹90,800)
Silver has been subjected to intense selling pressure due to its industrial attribute. Nearly 64 per cent of the total demand for the metal is industrial, says Praveen Singh of Mirae Asset Sharekhan
On April 3, spot gold, buoyed by renewed safe haven demand due to unexpectedly high reciprocal tariff rates that pose a risk to the global trade and economy, soared to a fresh record high of $3,167.84
Gold rallied 19 per cent in the first quarter as it was up around 2 per cent last week-its fourth straight weekly gain.