Gold Price Today, 30 June 2022- MCX Gold to hover in Rs 50300-51400 range, support at Rs 50500
时间:2024-06-26 11:45:22 阅读(143)
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading weak in India on Thursday, despite positive global trends. On Multi Commodity Exchange, gold August futures were ruling Rs 17 down at Rs 50,712 per 10 gram. So far this fiscal year, MCX gold has fallen 2.4 per cent. Silver September futures were trading at Rs 59,708 per kg, down Rs 83 or 0.14 per cent. Globally, yellow metal firmed as U.S. Treasury yields dipped, but faces its worst quarter since early 2021, as the dollar cemented its place as the safe-haven asset of choice, amid top central banks adopting aggressive tactics against runaway inflation, according to Reuters. Spot gold was up 0.1% at $1,818.31 per ounce, while U.S. gold futures also firmed 0.1% to $1,819.70.
Navneet Damani, Sr. Vice President – Commodity & Currency Research, Motilal Oswal Financial Services
Bhavik Patel, Commodity & Currency Analyst, Tradebulls Securities
Gold prices saw sharp fall after US GDP data came lower than expected and the US Fed committed to tackle inflation. Investors feared that US and world economies may go into recession which prompted buying of safe haven US Dollar. Gold once again is at its support zone of $1811-1800 in COMEX. From a technical point of view, the gold trend is slightly bearish and breach below $1800 could see traders adding fresh short. Gold’s range bound movement is a bit of concern as volumes have dried up as well as interest. Usually when any commodity trades sideways, its precursor to bearish movement. We would watch to see if gold breaks $1800 or again bounces back around its mean average of $1833.
Tapan Patel, Senior Analyst — Commodities, HDFC Securities
Gold prices held steady on Thursday with COMEX Spot gold prices were trading flat near $1820 per ounce in the morning trade. MCX Gold August contract opened flat near Rs. 50726 per 10 gram in line with COMEX gold prices. Gold prices are stuck in the narrow range on mixed global cues. Prices are not budging from current range over FED hike expectations and slowdown fears. The dollar index and US bond yields were also steady post US GDP numbers. We expect gold prices to trade sideways to down for the day with COMEX Spot gold support at $1810 and resistance at $1830 per ounce. MCX Gold August futures support lies at Rs. 50500 and resistance at Rs. 51000 per 10 gram.
(The views in this story are expressed by the respective experts of the research and brokerage firm. Financial Express Online does not bear any responsibility for their advice. Please consult your investment advisor before investing.)
上一篇:Axis Bank, Yes Bank and L&T among 156 BSE stocks to hit 52-week highs, 15 fall to 52-week lows
下一篇:Xiaomi 12 Pro first look at design, specs, top features and more - In Photos
猜你喜欢
- Bank of India raises Rs 2,000 crore
- Stellantis to invest Rs 2,000 crore for Citroen brand in Tamil Nadu
- B Capital closes third growth fund series at $2
- Facing New Year’s Eve alone- Transform your night with these 7 simple tips!
- Stocks shrug off rates risk as US consumers spend
- FII, DII data- FPIs bought shares worth Rs 3370 cr, DIIs sold shares worth Rs 193 cr on July 20, Thursday
- Fighting for nature- With climate change our most pressing worry, and little action on policy front, it is left to citizens to take charge
- Aviation boom! Boeing says huge potential for widebody aircraft in India
- Stocks to buy- Nifty resistance at 17800-17850; charts show Sun Pharma, Britannia, others may rally