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Gold and Silver value immediately (November 24, 2023): Home yellow steel futures traded flat with a optimistic bias on Friday amid a weaker US greenback as markets continued to cost in expectations for a looser financial coverage on this planet’s largest financial system subsequent 12 months.
Final seen, MCX gold futures (Dec 5) had been flat with optimistic bias at Rs 61,110 per 10 grams on the final rely, having traded between Rs 61,056 and Rs 61,110 earlier within the day. Silver futures (Dec 5) had been flat at Rs 72,910 per kg.
“With rising ETF flows, a weaker greenback, and continued expectations of a Fed pivot with markets pricing in a 25 – 26 per cent likelihood of a charge reduce by the top of March 2024, gold is anticipated to commerce regular in day commerce. Nonetheless key information due subsequent week will make clear the outlook for the US financial system, with second estimates for third-quarter progress set to land on Wednesday,” stated Neha Qureshi, Senior Technical & Spinoff Analysis Analyst, Anand Rathi Commodities & Currencies.
Qureshi recommends promoting gold December futures on the rise at 61,100, preserving the cease loss at Rs 61,400 and a goal value of Rs 60,600. For Silver December futures she recommends promoting on the rise at Rs 73,000, with a cease lack of Rs 74,000 and a goal of Rs 71,000.
“Bullions are wanting sturdy, so merchants are suggested to make contemporary purchase positions in Gold and Silver close to given assist degree one,” stated Amit Khare Affiliate Vice President at Ganganagar Commodity Restricted (GCL) Broking.
Khare sees assist for Gold December futures at 60900/60700 and resistance at 61300/61500. For Silver December futures he sees assist at 72700/71700 and resistance at 74000/74500.
Within the worldwide market, COMEX gold was flat at $1993.7 per ounce.
This is an indicative listing of spot gold costs in a number of the main Indian cities:
Metropolis-wise gold value (24k) in India (November 24, 2023)
Cities
Gold costs for 24k (10 grams)
Mumbai
Rs 63,090
Delhi
Rs 63,140
Chennai
Rs 63,210
Kolkata
Rs 63,270
Bengaluru
Rs 63,240
Hyderabad
Rs 63,210
Ahmedabad
Rs 63,240
Bhopal
Rs 63,095
Visakhapatnam
Rs 63,240
Jaipur
Rs 63,130
Lucknow
Rs 63,225
Coimbatore
Rs 63,270
Madurai
Rs 63,280
(Disclaimer: These are indicative costs collected from trusted sources. Traders are suggested to test costs with their jeweller earlier than performing on the knowledge.)
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