The MCX Gold futures need to cross and sustain above Rs 51,350 to regain upward momentum; Silver futures has near support at Rs 56,100.
Silver prices also remain unchanged with one kg of precious metal trading at Rs 57,000
Silver is selling at Rs 57,000 per kg today
(Reuters) - Gold rose on Thursday as the dollar pulled back slightly and some investors scooped up bargains after two sessions of heavy losses that plunged prices below the crucial $1,800 level.
Kalyan Jewellers on Thursday said it witnessed continued momentum in both footfall and revenue across all our markets in India and the Middle East in the first quarter of this financial year.
Gold prices have regained footing following some significant losses and a comparable softer US Dollar
Silver, on the other hand, is also witnessing a losing streak as the precious metal falls Rs 2,000. One kg of silver is currently selling at Rs 56,900
Gold prices are showing rising trends after dropping severely in previous months. This is owed to recession fears and rising oil prices, leading investors into frenzy
Silver is trading at Rs 57,800 per kg on Wednesday. after an increase of Rs 1,100
Dollar's 1.4% rise makes gold more expensive for overseas buyers; market focus on minutes of Fed June meeting on Wednesday
Gold and silver prices remain unchanged in Tuesday's early trade as 10 gram of 24-carat of the yellow metal is selling at Rs 52,340
Gold is currently ranging above $1,800 backed by Treasury yields and the spike in US dollar strength
Gold futures are likely to trade with a bullish bias as long as they hold above Rs 51,535 in the entire month of July; Silver futures could decline towards Rs 53,850.
In Chennai, 10 gram of 24-carat and 22-carat gold is trading at Rs 52,280 and Rs 47,920 respectively
Meanwhile, silver prices also rise by Rs 400 per kg, with the precious metal trading at Rs 59,000
Gold domestic futures jumped by about 3 per cent to over Rs 52,000 per 10 gram in initial trading
Last year, the government had cut the tax on gold imports to 7.5% in the Union Budget
Spot gold was down 0.2% at $1,804.26 per ounce, as of 0258 GMT, after hitting an over six-week low of $1,801.50 in the previous session. U.S. gold futures dipped 0.1% to$1,805.00
Gold prices fell by Rs 110 in Friday's early trade from the previous day's rate, with 10 gram of yellow metal (24-carat) trading at Rs 50,890
Gold slipped on Thursday, heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset