Gold Price In the present day, Gold Worth on 17 February 2022: Gold could hit Rs 50,000 this week once more, Russia-Ukraine tensions help costs


Gold Price In the present day, Gold Worth in India on 17 February 2022: Gold costs in India had been buying and selling flat on Thursday, whilst worldwide charges hovered close to 8-month excessive.

Gold Worth In the present day, Gold Worth Outlook, Gold Worth Forecast: Gold costs in India had been buying and selling flat on Thursday, whilst worldwide charges hovered close to 8-month excessive. On Multi Commodity Change, gold April futures had been buying and selling Rs 18 down at Rs 49,600 per 10 grams. Silver March futures had been ruling at Rs 63,149 per kg, down Rs 150 or 0.24 per cent. Globally, gold steadied close to an eight-month excessive touched earlier this week, because the U.S. greenback and Treasury yields dipped on much less hawkish-than-feared Federal Reserve minutes, and because the Ukraine disaster boosted demand for the safe-haven metallic, in keeping with Reuters. Spot gold held its floor at $1,868.36 per ounce. U.S. gold futures had been regular at $1,871.40.

Tapan Patel, Senior Analyst — Commodities, HDFC Securities

Gold costs traded regular on Thursday with COMEX Spot gold costs had been buying and selling close to $1869 per ounce within the morning commerce. MCX Gold April futures opened close to Rs. 49568 per 10 gram. Gold costs witnessed shopping for in earlier buying and selling session as buyers centered on larger inflation whereas conflicting statements over Russia-Ukraine stress additionally saved danger premium up. Gold costs additionally received help from fall in US bond yields which had been buying and selling 0.85% down within the morning commerce. We anticipate gold costs to commerce sideways to up for the day with COMEX Spot gold help at $1850 and resistance at $1890 per ounce. MCX Gold April futures help lies at Rs. 49300 and resistance at Rs. 49900 per 10 gram.

Bhavik Patel, Commodity & Foreign money Analyst, Tradebulls Securities

Gold costs are at 8 month excessive as US greenback retraced after lower than hawkish Federal Reserve minutes had been printed. Stress between Russia and Ukraine has not abated which is giving tailwind to gold costs. So the identical two elements which have dominated gold’s current advance to larger pricing stay firmly fastened within the sentiment of market participant’s i.e. geopolitical stress and excessive inflation. Gold pricing has been transferring larger based mostly on basic occasions somewhat than technical ranges. Whereas gold did soften by roughly 1000 factors on Tuesday, yesterday 300 level erased a few of the decline, and all issues being equal we may see a retest of 50000 by the top of the week. We had flashing information coming that Ukraine has fired mortal shells and grenades which once more will give non permanent enhance to gold costs.

Nirpendra Yadav, Senior Commodity Analysis Analyst, Swastika Investmart

Regardless of sturdy US retail gross sales information Gold and Silver costs gained round 0.35% on account of hypothesis over eased geopolitical tensions between Russia and Ukraine. Gold costs rebound close to essential help of 49000. Silver can also be holding help of 62500. The greenback which typically strikes reverse to Gold costs remained down for 2 consecutive days and supported the costs of treasured metals within the close to time period.

Ravi Singh, VP & Head of Analysis, Share India Securities

An indication of a slight de-escalation within the Russia-Ukraine standoff diminished the secure haven enchantment and triggered revenue reserving in gold. Gold could stay beneath strain as merchants have shifted focus to Fed forward of FOMC minutes because the central financial institution is more likely to keep hawkish stance. Rising bond yields are additionally placing strain on gold costs.

Purchase Zone Above – 49800 for the goal of 50000
Promote Zone Under – 49500 for the goal of 49300

(The views on this story are expressed by the respective consultants of the analysis and brokerage agency. Monetary Specific On-line doesn’t bear any duty for his or her recommendation. Please seek the advice of your funding advisor earlier than investing.)

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