The Rs 50,975-level is the pivot point for MCX Gold futures this week; Silver futures may trade in a broad range of Rs 60,165 to Rs 63,175 this week.
The upside for MCX Gold June futures seem capped around Rs 51,400-level, while support is seen around Rs 50,670; Silver futures may consolidate in a broad range of Rs 58,480 to Rs 63,885.
The MCX Natural Gas futures may test Rs 704 as indicated on the daily charts; the bias for the remainder of the week is likely to remain bullish as long as Natural Gas sustains above Rs 673.
The upside for MCX Gold June futures seem capped around Rs 51,500-odd level; while MCX Silver futures are likely to face strong resistance in the Rs 64,200 - 64,800 range.
The MCX Gold futures may slide towards the 200-DMA at Rs 48,840 in the near term; while the broader trend indicates a downside target of Rs 53,000 for MCX Silver futures.
These negative returns have largely been triggered by panic selling by new investors who exited in droves in the backdrop of rising interest rates, inflation worries and the geopolitical tensions
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Spot gold was up 0.5% at $1,984.58 per ounce, as of 0202 GMT, hitting its highest since March 14. U.S. gold futures were up 0.7% at $1,987.70
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Spot gold was up 0.3% to $1,923.95 per ounce by 0210 GMT. U.S. gold futures rose 0.5% at $1,927.70.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Spot gold fell 1.07% to $1,936.36 per ounce by 12:01 p.m. ET(1601 GMT), while U.S. gold futures declined 0.9% to $1,936.40.