Unexpected appreciation of the US dollar on Friday pushed up gold and silver prices, The corona virus is trying to show the pace of the subsequent emergence of the economic crisish hid the greenback
Unexpected appreciation of the US dollar on Friday pushed up gold and silver prices |
NEW DELHI: Unexpected appreciation of the US dollar on Friday pushed up gold and silver prices, with US unemployed claiming that fears of a slow recovery from the Carnavirus-era economic crisis hid the greenback.
At 10:45 a.m., spot gold rose 0.49% to 1,996.40 an ounce, while silver spot rose 1.118% to $ 2.4,480 an ounce. Gold futures for sale at MCX, October traded up 0.36% at Rs 52,338 per 10 grams. During the day it is at a high of Rs 52,409 and similarly, October futures on silver delivery rose 1.51% to Rs 68,650 per kg, topping Rs 68,900 today.
Unexpected growth in US jobless data has given rise to some graphs of the bullion line behind the weakness of the dollar again. Emergence movements can be seen again. The U.S. Federal Reserve also warned of a decline in recruitment due to the weakness in the U.S. economy, ”said Anuj Gupta, DVP-Commodity and Currency Research, Angel Broking Ltd.
Today the MSX Gold Future will touch the level of Rs 52,700 while the Silver Future may rise again to Rs 70,000. "Today traders can buy at 52,100 levels of gold with a stop loss of 51,700 levels for a target of Rs 52,700. Silver also bought at 67,500,000 levels with a stop loss of 655,900 levels and a target of 70,000,"
Data from Thursday showed that the unexpected rise in the number of Americans filing new claims for unemployment benefits topped more than 10 million last week, a push for a market fight in the U.S. hit by the carnivirus epidemic. This is the dollar index and the 10-year Treasury low-key example, which has made gold an attractive investment field for other currency holders.
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