Gold prices plummeted in six years Good chance to buy

Friday saw gold price rise in MCC 198 and on closed 48,083 in 10 gram levels. However, this increase was not enough to compare with the biggest drop in six years because the yellow metal fell in By the end of 2021, he lost more than 4% on MCX. MCX Gold Price Today at Exceeds 48,000 levels It is lower than the nearest 8,000 ever. 56,200 per 10 g.

According to commodity market experts, the price of gold is around today. The highest-priced 8,000-pound bull, ever priced at less than $ 1,800, has attracted buyers. As a result, gold prices plummeted sharply in the last two weeks, with profits plummeting between $ 1820 and $ 1835. According to them, the price of gold is currently in the market place and the latest design shows ‘positive bias’. Gold investors are advised to ‘buy in dips’ as gold can reach $ 1880 to $ 1900 per ounce over the next three months. Gold experts say the yellow metal has received strong support at $ 1760 per ounce and has not been broken for a month. Therefore, one should monitor the wide range of $ 1760 to $ 1835 per ounce and follow the purchase dips strategy.

They say the price of MCX gold is higher today. 48,000 at 10 g and has strong support at 47,500 steps. They said. 47,800 to 47,900 is a good buy area for short-term investors because yellow metal may increase soon 49,300 to 49,500 per 10 grams of Indian Indian Rupee (INR) compared to USD. Over the past week, INR has said it appreciates the environment 2 Compared to the US dollar, he did not allow that MCX gold to hit. 49,000 But the current gold price is a good opportunity for short-term gold investors as dollar demand is expected to increase in the new year 2022.

Talking about the value of gold; Vice President – Commodity Oswal Commodity Research said, “Gold today sells in the stock market from $ 1760 to $ 1835 per ounce range and when the above barrier is broken it could soon reach $ 1880 to $ 1900 per ounce. The short-term outlook is on the positive side as the yellow metal attracts high demand every time the underlying market falls below $ 1,800, indicating a positive bias in the current gold trade. ”

Highlighting why MCX Gold is not appreciated despite positive signs from the space market; According to Anuj Gupta, Vice President – Commodity and Currency Trading at IIFL Security, 2 with US dollars. The rise in the value of the rupee has eroded the value of the spot market.

Anuj Gupta said. 1 increased against USD. 300 to 350 twists in MCX gold size. Indian Rupee says he appreciates the sound 2 with USD in Forex Market, around 600 to An increase of 700 is held by MCX Gold. However, with the demand for the dollar increasing during the New Year’s Eve festivities, the IIFL’s Annual Gupta is expected to grow significantly in the new year 2022 US dollars.

“It is not uncommon for forex traders to move more than the US dollar into new positions on New Year’s Eve in New Year’s Eve. So, starting in the second week of January, Rupee is expected to calm down against the US dollar, which is supporting the gold price rally in the short term. So one has to buy gold. 47,800 per 10 gram parking loss b 47,500 steps. Over the next month, the yellow metal may rise 49,300 levels. However, if the gold price trend continues in the space market, it could rise. 51,000 to 51,500 per 10 gram by the end of March 2022, ”concluded the IIFL Security Annual Gupta.

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