Gold Prices Today: Gold slipped from the level of $ 2,000 an ounce in international markets on March 8, with the US dollar reaching several months’ low. At the same time, with Russia-Ukraine talks barely progressing, palladium also fell below its record high after investors breathed a sigh of relief.
On the Multi Commodity Exchange (MCX) at 9.35 am, gold contracts fell 0,04 per cent to Rs 53,498 per 10 grams, while silver rose 0.1 per cent to Rs 70,039 per kg.
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Gold may touch 55,000 level: Ravi Singh
Ravi Singh, Vice President and Head of Research, Share India said, “Gold continues to rise amid rising Ukraine-Russia tensions and rising commodity prices threatens inflation-induced recession.” Is. Gold will continue to rise and if the situation worsens from here, it can go up to Rs 55,000 in the near future.
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Sell zone is in gold below 53,000: Amit Khare
Amit Khare, AVP-Research Commodities, Ganganagar Commodity said, “Russia-Ukraine Crisis may lead to volatility in the market, so small traders should avoid trading for a few days.” According to the technical charts, some profit booking is visible in Gold and Silver and is provisionally on tow. There are similar signals from the RSI on the Hourly and Daily charts, so only risky traders are advised to take fresh short positions at the given resistance levels. Traders should keep an eye on key technical levels.
Gold closing price for April- Rs 53,517, Support 1- Rs 53,100, Support 2- Rs 52,800, Resistance 1- Rs 53,800, Resistance 2- Rs 54,200
Silver closing price for May- Rs 69,969, Support 1- Rs 69,400, Support 2- Rs 68,700, Resistance 1- Rs 70,500, Resistance 2- Rs 71,100
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You can buy gold for the level of 56,000: Vidit Garg
Vidit Garg, Director, MyGoldkart said, “Gold is yet to rally from the technical point of view and levels below $1,950 or up to $1,920 should be used to add gold to the portfolio. It should touch the level of $2,040 by the end of the financial year. Our view will change if it closes below $1,900.
In the domestic market, any level up to Rs 51,500 and Rs 50,500 should be used to include in the portfolio for a target of Rs 56,000. However below Rs 49,500 the view will change.
Disclaimer: The views and investment tips of investment experts on Moneycontrol are their own and not that of the website or its management. Moneycontrol advises its users to consult certified experts before taking investment decisions.
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