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price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities. The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year. Wholesale price-based inflation spiked to a record high of 15.08 per cent in l ..on rising prices across segments from food to commodities. The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last ya
Gold prices on Monday rose in international markets above the more-than-three-month low level hit in the previous session, as a weaker dollar outweighed pressure from higher US Treasury yields. Spot gold was up 0.3% at $1,815.69 per ounce as of 0057 GMT. US gold futures gained 0.2% to $1,812.20.
At 9:37 am, gold contracts were up 0.17 percent at Rs 49,957 for 10 gram on the Multi-Commodity Exchange (MCX), while silver added 0.47 percent at Rs 59,610 a kilogram.
Gold prices saw weak trading on Monday with spot prices at COMEX near $1810 per ounce in morning. Gold prices traded under pressure on stronger dollar reporting a fourth weekly decline. Traders and investors weighed on aggressive rate hike in coming months while weaker Chinese yuan is also boosting buying in dollar and thus lowering demand for gold.
Gold and silver prices showed mixed movement on May 13. On the Multi-Commodity Exchange (MCX), June gold contracts closed down by 0.60% at Rs 49,873 for 10 grams. July contract Silver futures closed at Rs 59,332 a kilogram, up 0.99%. As per technical chart, gold and silver are trading at highly oversold zone and any time we can see a huge short covering rally; momentum indicator RSI is also indicating the same on the hourly as well as daily chart. So traders are advised to create fresh buy positions near given support levels and should focus on important technical levels.
June Gold closing price Rs 49873, Support 1 – Rs 49800, Support 2 – Rs 49500, Resistance 1 – Rs 50050, Resistance 2 – Rs 50200.
July Silver closing price Rs 59332, Support 1 – Rs 59000, Support 2 – Rs 58500, Resistance 1 – Rs 60100, Resistance 2 – Rs 61000.
