Gold prices traded in a narrow $3 range on Monday as strong U.S. economic data encouraged investment in riskier assets while limited risk hedging supported the metal.
Gold Price Forecast
Gold Price Today: Yellow Metal Down, Geopolitical Factors; Buy on dips – Don’t Sell
Gold Silver prices witness very high volatility on Monday. Gold prices tested $1584 per troy ounce to hit a near 7-year high, and silver prices test $18.50 per troy ounce in the international market.
MCX Gold Tips Today – Above 40680 Target 41260—41530, Sell Karna Mana Hai
In global markets, gold prices today surged 1.5% to $1,579.55 per ounce, the highest level in about six years. The gains extended Friday’s surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani. The killing has heightened concerns of a widening Middle East conflict.
Precious Metals: Near Term Correction Due
Precious Metals – ABN AMRO’s Senior precious metals strategist, Georgette Boele, notes that gold prices have gained 17% this year and argues that gold prices have risen too sharply in a short period and are likely to make a correction in the coming months.
Gold Prices Fall By 405 Rupees: Gold Silver Reports
Gold Silver Reports –Gold prices on Thursday declined by Rs. 405 to Rs. 32,385 per 10 grams on reduced buying by local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association.