Gold prices fall this week. Experts have unveiled this bullying strategy

Gold Price Today Multx Commodity Market or MCX Gold price fell on Friday 32 by 10 g and closed by 48,120 steps, entry She slipped 483 in a week. This February, future yellow metal prices will increase in the case of Omicron, if crude oil prices rise, global inflation, etc.

Commodity market experts say the fall in gold prices was due to the weakening of the dollar against the Indian National Rupee (INR). Rupee’s surplus with the dollar has limited the chances of a gold rush, otherwise the overall MCX gold price is still exaggerated.

The main triggers for the price of gold today

According to bullion experts, gold is trading at $ 1760 to $ 1,835 an ounce in the spot market and is expected to move across the region next week. He also said that the MXX gold volume is also expected to rise. 48,000 to 48,700 in the 10 gram range in the near future until a break in the space market on both sides. He said the rise in the value of crude oil in Indian crude oil would not hurt the value of the US dollar, which could help gold to shine in the near future. Gold investors are cautioning against the ‘Buy Deep’ strategy and cautioned against ‘selling’ as gold could break $ 1835 per ounce in the near future and could reach $ 1880 in the short term.

The price of crude oil will increase in the near future

Talking about the value of gold; Anuj Gupta, Vice President – Commodity and Currency Trading at IIFL Securities, said: “Ointment can be a concern. In addition, the Omicron issues in India and overseas will support the ever-increasing price of gold. Therefore, the overall outlook for gold is positive and consistent.

Advising gold investors to monitor yellow metal activity in the spot market; Amit Sajeja, Vice President – Commodity and Currency Research by Motilal Oswal “Recently, gold prices have been associated with positive bias. $ 1820 to $ 1825 per ounce.

Amit Sajeja of Motilal Oswal added that the region is expected to remain intact in the near future and that one must continue with the ‘buy dips’ strategy as long as both sides of the region are not violated.

Short-term MCX gold volume forecast

Anuj Gupta, of IIFL Security, said the overall sentiment of gold is positive and MCX gold is likely to rise. In the near future, 48,700 will be able to buy gold at the 10 gram level 48,000 levels for recent targets 48,500 and 48,700 per 10 gram parking loss b It weighs 47,600 per 10 grams. 49,300 to 49,500 steps, IIFL Securities Anuj Gupta completed.

Word of apostasy The above comments and recommendations are for individual analysts or distribution companies, not Mint.

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