Gold Rate Today: Gold prices decreased by Rs 97,000 per 10 grams after Iran -Israel ceasefire – what is Outlook?
Gold Rate Today: After the announcement of Iran and Israel’s official ceasefire by US President Donald Trump, MCX Gold August futures fell by Rs 3,000, about 3%, which reached Rs 96,422/10 grams during early trading, during early trading. Along with this, Silver July Futures decreased by Rs 760 or 0.6%, which touches a low of Rs 1,06,011/kg.On Monday, both precious metals performed positively in domestic and international markets. Gold August futures exceeded Rs 99,388 per 10 grams, showing an increase of 0.28%, while the silver futures ended at Rs 1,06,759 per kg at Rs 1,06,759 per kg, registering an increase of 0.50%.In the last trading session, both metals strengthened the weekend due to safe-havan procurement after US attacks on Iranian nuclear facilities. Gold prices again reached $ 3,400 per troy ounces, while silver prices overtook $ 36 per troy ounces, although both remained below their daily peaks.“In the Middle East changing circumstances, there has been an increase in instability in the precious metal section every minute,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.Subsequently, the two precious metals experienced the high level of their previous session as a result of an USA President’s unexpected announcement of an Israel-Iran ceasefire at midnight.The dollar index experienced a decline falling under 98 levels, which could provide support for the evaluation of gold and silver at the lower ends. The US Dollar Index (DXY) was trading around 98.12, which showed a decrease of 0.30 or 0.30%.“We hope that gold and silver prices will remain unstable this week amidst dollar index, geopolitical stresses and instability in the testimony of Fed Chairman, but gold prices may have a support level of $ 3,240 per troy ounces and silver prices may also be $ 34.00 at a troop outer level based on a weekly closing.”“Gold to be strong between political and economic uncertainties. Investors are looking at US economic figures this week after the Federal Reserve maintains his current interest rate policy, “Neha Qureshi, senior technical and derived analysts, Anand Rathi Commodities and currencies said.In his technical analysis, he indicated that gold faces resistance near $ 3,400 in international markets. A successful violation can run prices towards $ 3,435 and $ 3,452. Can there continue to have a speed above, prices can reach an all -time peak of $ 3,500.
Trading recommendations for gold and silver:
Manoj Kumar Jain prepares the following price levels for MCX:* Gold support level is located for Rs 98,850-98,440, while the resistance level is Rs 99,800-1,00,200.* Silver support level has been set up for Rs 1,06,000-1,05,000, which has a resistance of Rs 1,07,400-1,08,000.* For silver trading, Jain recommended to purchase at 1,05,000 levels, established Stop Loss for Rs 1,04,000, which aims to Rs 1,07,000.(Disclaimer: Recommendations and views on stock markets and other asset classes given by experts are their own. These opinions do not represent the views of Times of India)
