INSUBCONTINENT EXCLUSIVE:
Domestic spot gold with purity of 24 carats opened at Rs 47,736 per 10 grams.Gold Price In India: Gold and silver futures climbed on
Wednesday, November 24, taking cues from the international spot prices
On the Multi Commodity Exchange (MCX), gold futures due for a December 3 delivery, were last seen 0.28 per cent up at Rs 47,566, compared to
the previous close of Rs 47,434
Silver futures due for a December 3 delivery were last seen 0.67 per cent higher at Rs 62,928 against the previous close of Rs
62,509.Domestic spot gold with purity of 24 carats opened at Rs 47,736 per 10 grams on Wednesday, and silver at Rs 63,177 per kilogram -
both rates excluding GST (goods and services tax), according to Mumbai-based industry body India Bullion and Jewellers Association
(IBJA).Foreign Exchange Rates:Globally, gold prices edged higher, though the strength in the United States dollar and bets that the Federal
Reserve could raise interest rates sooner than anticipated kept the safe-haven metal below the key $1,800 mark
Spot gold rose 0.2 per cent to $1,792.68 per ounce, after slipping 0.9 per cent to its lowest since November 5 on Tuesday
United States gold futures added 0.5 per cent to $1,792.90.Analyst View:Ravi Singh, Vice President and Head of Research, ShareIndia: "Gold
is still expected to remain in the negative territory for few more trading sessions
All the momentum indicators like RSI, MACD, Moving Averages and Stochastic are showing downtrend in intraday and daily chart
There is also nothing expected this week which may trigger fresh safe haven appeal
We advice investors to remain cautious and avoid taking fresh long position before the sentiments turn around."He suggested, "Buy Zone above
- Rs 47,700 for the target of Rs 48,000; Sell Zone below - Rs 47,300 for the target of Rs 47,000."
