Bullion Swings Between Loss and Profit, Silver Price Gains also, Gold price rally fizzled after Comex futures climbed back above $2,000 an ounce, with the dollar erasing losses and a U.S. report adding to signs of a recovery in global manufacturing.
Gold Spot Price
Silver Spot Support Zone $28 — $ 27.48 – Neal Bhai Reports
Silver Spot Support Zone $28 — $ 27.48, Target Price $29 — 29.80, September silver futures prices on MCX rose 0.4% to ₹69,135 per kg. In the previous session gold had surged ₹500 per 10 gram while silver had gained about ₹1,000 per kg. Gold prices in India had hit a record high of ₹56,200 on August 7 and since then prices have been volatile in tandem with movement in global rates.
Silver Price Rebounded From the Nearest Support Level at $26
Silver price continues to trade near $27.00 as the U.S. dollar is losing ground against a broad basket of currencies while gold tries to settle above the 20 EMA near $1950.
Silver MCX Bole Boom Boom, Watch High 75751, Rona Mana Hai Trade With Neal Bhai
Silver MCX Bole Boom Boom, Watch High 75751, Rona Mana Hai Trade With Neal Bhai, — Rising cases of COVID-19 across the world especially in the US has lead analysts to believe that another round of stimulus could be in the offing. The world’s largest economy has already announced a $3 trillion stimulus package, but the Democrats have asked for an addition $400 billion in fiscal measures. The two sides have been negotiating for a week now.
MCX Silver Above 64700 Target 67000—72000 – Neal Bhai Reports
Silver yesterday settled up by 0.05% at 61223 on hopes of recovery in industrial demand. Prices also rallied amid safe-haven demand as investors fretted over rising coronavirus cases around the world, disappointing jobless claims data and worsening U.S.-China tensions.