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Gold Prices Today: Yellow metal to stay range-bound, resistance around Rs 52,210-52,350
Gold, gold prices Gold prices ticked lower on Monday in the international markets having shed nearly 1 percent in the previous session, as strong US jobs data cemented the view that the Federal Reserve would continue its policy of aggressive interest rate hikes. Upbeat US data supported the dollar index and the US bond yields. In rupee terms gold has support at Rs 51,620-51,440, while resistance is at Rs 52,210-52,350. Gold December futures contract settled at $1,701.80 per troy ounce, down by 1.10% and silver December futures contract settled at $20.16 per troy ounce, down by 2.42%. Deveya Gaglani, Research Analyst, Axis Securities A frail attempt by gold to breach and sustain above $1720 was put to an end by a better than expected non-farm payroll data, which again renewed the prospect of aggressive rate hike and expectation of hawkish policy, going forward. Source - Money Control #goldprice #update #priceupdate #india
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