INSUBCONTINENT EXCLUSIVE:
Gold futures were last seen trading higher by Rs 37 or 0.08 percent - at Rs 48,055 Gold Cost In India: Gold futures traded marginally
greater on Tuesday, November 9, as the yellow metal mirrored patterns in global markets
On the Multi Product Exchange (MCX), gold futures due for an December 3 shipment, were last seen trading greater by Rs 37 or 0.08 percent -
at Rs 48,055, compared to their previous close of Rs 48,018
Silver futures due for a December 3 shipment were last up 0.02 percent at Rs 64,892 against a previous close of Rs 64,881
Domestic spot gold opened at Rs 48,143 per 10 grams on Tuesday, and silver at Rs 64,741 per kilogram - both rates excluding GST, according
to Mumbai-based industry body India Bullion and Jewellers Association (IBJA)
Gold In International Markets: Globally, Gold rates hovered near a two-month peak on Tuesday, supported by a softer dollar and United States
bond yields, as financiers waited for essential inflation information to determine the Federal Reserve's next move on rate walkings,
according to news agency Reuters.A suppressed dollar and lower benchmark 10-year Treasury yields kept the bullion's appeal intact
A weaker dollar decreases bullion's expense for purchasers holding other currencies, while lower yields reduce non-interest bearing
Mr Ravindra Rao, CMT, EPAT, VP- Head Product Research at Kotak Securities: COMEX gold trades partially greater near $1820/oz after a 1.3
per cent gain in previous session
Gold trades higher supported by drop in US bond yields as Fed chose to take a steady approach on monetary tightening
Also supporting rate is inflation concerns.However, weighing on rate is positive United States jobs report, continuing strength in equity
Gold has actually rallied greatly in last couple of sessions amid absence of any aggressive move by Fed however might struggle to build on
the gains amidst improved risk belief
Ravi Singh, Vice President - & Head of Research Study, ShareIndia: The drop in United States bond yields after the dovish approach of Fed
on financial tightening up, pulled Gold costs higher
The inflation concerns has increased the safe haven appeal and supporting the prices.However, the improved United States jobs report, strong
equity markets and ETF outflows has maintained downward pressure in gold and pressed it to trade in variety bound zone
We expect gold to reveal some upward move this weekBuy Zone Above - 48000 for the target of 48300; Offer Zone Below - 47800 for the target
Amit Khare, AVP- Research Commodities, Ganganagar Product Limited: The other day December gold made a low of 47815 then made a high of
48174, and silver made a low of 64297 then made a high of 65038
We saw good buying in bullions at lower levels, which may continue for next few trading sessions ..
traders are encouraged to make fresh buy positions in gold and silver in little dips, traders ought to focus important technical levels
offered listed below for the day: December Gold closing rate 48018, Support 1 - 47800, Support 2 - 47600, Resistance 1 - 48225, Resistance 2
Foreign Exchange Rates: The dollar was held listed below current peaks on Tuesday as traders awaited inflation figures due in the United
States and China to guide the current interest rate outlook, while the currency's momentum brought bitcoin and ether to a fresh record
The rupee opened 73.90 against the United States dollar today, against its previous close of 74.02
Mr Amit Pabari, MD, CR Forex: Increasing costs and what reserve banks prepare to do about them would remain in the spotlight with inflation
In focus will be Wednesday's release of United States October CPI, where inflation is anticipated to hit a more than a decade high of 5.8
percent in October making it more difficult for the Fed to validate delaying rates of interest hikes.A spiked figure would imply inflation
to be more relentless than transitory and rekindle talks of Fed raising interest rates earlier than expected, consequently buckling up for a
