MCX Silver Tips Today: Hit All Target 63200 to 63950 Enjoy — Neal Bhai Reports
Silver failed in the 30.00 region and is seen slipping back towards support at 21.87/64.
MCX Silver Tips Today: Hit All Target 63200 to 63950 Enjoy — Neal Bhai Reports
Silver failed in the 30.00 region and is seen slipping back towards support at 21.87/64.
Silver and gold price are rising more than 1% on Wednesday, recovering after posting sharp losses during two consecutive days. A modest decline in US yields, a correction of the US dollar, month-end flow, and some profit-taking favored the rebound.
Crude Oil held losses in early Asian trading amid concern over near-term demand and dollar strength ahead of a closely watched OPEC+ meeting this week at which the group will decide on output policy.
Gold prices fell for fifth day today while silver continued its downtrend in Indian markets, tracking softer global rates. On MCX, June gold futures fell 0.3% to near one-year low of ₹44,300 while silver declined 0.8% to ₹62,617 per kg. In the previous session, gold had declined 0.5% while silver had tumbled 1.7%.
Gold Price Forecast: Q1 is not winding down in the way that many Gold bulls had imagined, myself included. For the past two weeks Gold prices have been stuck in a fairly consistent albeit relatively small trading range, spanning about 2% of Gold spot price as a couple of Fibonacci levels have helped to define this mean reversion.