Today’s financial signs are giving rise to individuality. Gold prices are being determined based on global market currencies, following the strengthening of the US dollar and the announcement of a ceasefire in southern Gaza by the US, Egypt and Israel.
Gold price movement on MCX is being assessed in the early trading session.
The opening price of gold was ₹ 56,166 per 10 grams and within a few minutes the commodity market fell below ₹ 59,000.
In the international markets, the current price of gold today is around ₹ 1,912 per ounce.
” Silver Market Industry Dynamic Due to Outbreak of World Events “ Silver prices today opened at a low of ₹ 71,200 per kg and fell as high as ₹ 70,750 per kg intraday.
In the international market, the current price of silver today is around $22.50 per ounce.
Reasons behind the weak start The reason behind the bearish environment in gold prices today, says Anuj Gupta, Commodity and Currency Expert, HDFC Securities, “After the conclusion of the Israel-Hamas conflict, we are likely to see a selling phase in gold prices. Are getting .
The US, Egypt and Israel announced a ceasefire in southern Gaza, leading to panic as if the war was over.
But, the war is still going on and hence I would advise gold investors to maintain strict stop losses as there could be a sharp bounce on even one humiliating announcement from Hamas or Israel.
US Dollar on Focus:-
Anuj Gupta said that the US Dollar Index has once again reached above the level of 106 and it registered some intraday gains in Tuesday morning session. This is also showing pressure on the rates of gold and silver today.
“Important levels to monitor Chart analysis of gold and silver prices on MCX” Prithviraj Kothari, National President of the Indian Jewelers Association, has given an important information about the gold and silver prices of the upcoming days.
“The current price of gold on MCX is $1,965 (₹ 60,000). So now it is important that we hold it above this level so that the uptrend continues,” he said. Looking at silver, he analyzed that recent charts are showing that silver has made a reversal to the upside.
