Buy Gold MCX Tips Today (FEB) 48800 Target 48950 – Open SL Paid. Gold prices gained strengthened and silver too was up more than 1 percent in Indian markets in the morning trade on January 29. On the Multi-Commodity Exchange (MCX) track gold prices, February gold contracts were trading higher by 0.25 percent at Rs 49,056 for 10 grams at 0920 hours. March silver was trading 1.3 percent higher at Rs 68,522 a kilogram.
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Get commodity future prices for Gold from MCX, NCDEX, NMCE. Get live commodity market price,Gold futures prices from Gold Silver Reports – Neal Bhai Reports
Gold Market Investors Waited for U.S. Stimulus Package
Gold Market Investors : Gold prices were steady on Friday as investors waited for developments around a U.S. stimulus package, although the metal was on course to post a weekly and monthly decline hurt by a stronger dollar.
BIDEN INAUGURATION TO HAVE LITTLE IMPACT ON GOLD
Today is inauguration day as Donald Trump’s presidency comes to an end, although market significance will be most likely minimal. Taking a look at gold’s performance in the chart below, around the time of inauguration day, there is no discernible implications for the precious metal.
Gold Prices Down by Rs 8,500 and Silver Rs 14,500 in last Five Months
Gold prices witnessed a massive plunge in the past week and dropped to Rs 48,702 per 10 gram on the last trading day of the week. On Friday, gold prices registered a steep fall of Rs 519 on the MCX exchange, while the gold futures price of April 5, 2021, was closed at Rs 48,715 per 10 grams with a decline of 514 rupees on MCX on the last trading day of the week.
Will Gold bounce back this week?
Will Gold bounce back this week? : Gold prices have recently corrected from their alltime high level of Rs 56,200 per 10 gram to Rs 47,500 per 10 gram. However, the prices bounced back to Rs 49,000 per 10 gram level as the USdollar touched a 2.5-year low, backed by hopes over US Covid19 stimulus aid. Backed by positivity on vaccines, a raging bullmarket in equities is also putting pressure on the yellow metal.