Financial News

Gold price today, 25 May 2021: Yellow metal falls on weak global cues; if gold holds 49,000, it may hit 50,500

Products You May Like

Gold Rate Today, Gold Price Today in Indian MCX, gold has resistance round Rs 48,800 the place the 200 day shifting common is.

Gold Value Right this moment, Gold Value Outlook, Gold Value Forecast: Gold costs had been buying and selling decrease in India on Tuesday, following international charges as hopes of fast financial restoration lifted demand for riskier property, whereas a weaker greenback and decrease US Treasury yields restricted losses for the safe-haven steel. On Multi Commodity Trade, gold June futures had been buying and selling Rs 103 or 0.21 per cent down at Rs 48,450 per 10 gram, as towards the earlier shut of Rs 48,553. Silver July futures had been buying and selling at Rs 71,501 per kg, down Rs 310 or 0.43 per cent, as in comparison with the final shut of Rs 71,811 per kg. Globally, spot gold was down 0.2 per cent at $1,877.26 per ounce. US gold futures fell 0.3 per cent to $1,879 per ounce. SPDR Gold Belief, the world’s largest gold-backed exchange-traded fund, stated its holdings rose 0.3 per cent to 1046.12 tonnes on Monday from 1042.92 tonnes on Friday.

Rahul Gupta, Head of Analysis-Foreign money at Emkay Global Financial Services

Associated Information

The US inflation is a key focus for traders, that means uncertainty over what occurs to rates of interest. The Fed’s dovishness will proceed to help gold costs and we might anticipate MCX gold to surge in the direction of Rs 49,000, constant buying and selling above which will push costs in the direction of Rs 49,650-50,100. Whereas on the draw back essential help is positioned round Rs 48,000. If a fall retains beneath Rs 48,000, then worth might breach Rs 47,700 and Rs 47,350.

Bhavik Patel, Senior Technical Analysis Analyst, Tradebulls Securities

There may be technical help for gold in COMEX round $1849 the place the 200 day shifting common is and resistance for gold in COMEX is at $1898 simply shy beneath the spherical psychological variety of $1900. Hedge funds are returning again to gold and seen renewed speculative curiosity as cryptocurrencies have seen an increase in vital volatility. Cash managers have elevated speculative lengthy positions and gold has not managed to place collectively a three-week shopping for spree of this magnitude since final June highlighting the continued enchancment within the technical outlook. In MCX, gold has resistance round Rs 48,800 the place the 200 day shifting common is. The momentum oscillator (RSI_14) is bullish however not within the overbought zone indicating room for additional upside. This week help for gold is at Rs 47,800 the place the 20 day shifting common is. We advocate going lengthy close to Rs 48,200-48,000 for anticipated goal of Rs 48,800 and cease lack of Rs 47,700.

NS Ramaswamy, Head of Commodities, Ventura Securities

Right this moment, technically we anticipate the MCX Gold June costs to consolidate within the vary of Rs 47,950-49,000. It will get away on both aspect within the coming buying and selling classes. Nevertheless, the general pattern is upside for the brief time period interval. Presently, MCX Gold’s worth is going through a robust resistance zone on the 200-day easy shifting common which involves round Rs 49,000 ranges, and breaking above which the subsequent leg of the rally will head in the direction of Rs 50,000-50,500 within the coming buying and selling classes. On the draw back, it is going to take sturdy help at Rs 47,950 ranges.

(The views on this story are expressed by the respective specialists of analysis and brokerage agency. Monetary Categorical On-line doesn’t bear any accountability for his or her recommendation. Please seek the advice of your funding advisor earlier than investing.)

Get reside Stock Prices from BSE, NSE, US Market and newest NAV, portfolio of Mutual Funds, Take a look at newest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and comply with us on Twitter.

Monetary Categorical is now on Telegram. Click here to join our channel and keep up to date with the most recent Biz information and updates.

Products You May Like