INSUBCONTINENT EXCLUSIVE:
Gold prices are expected to surge to Rs 65,000-67,000 per 10 gmGold Price in India: Gold prices are expected to surge to Rs 65,000-67,000
per 10 gm on the domestic front in the long term and is likely to maintain the target of $2500 on the COMEX
According to a recent commodity insight report by Motilal Oswal Financial Services, gold is being recommended to be collected with every dip
towards Rs.49,500-48,500, a good range to buy with short-term upsides being capped around Rs.52,000-53,000.According to the report, Comex
Gold is expected to form a base around $1,880-1,840, while rallies are expected to be capped in the range of $1,940-$1,975
11), the rupee settled at 74.36 against the greenback, declining by 18 paise over its last close
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 92.87.Domestic spot gold
closed at Rs 50,708 per 10 grams on Wednesday, and silver at Rs 62,440 per kilogram - both rates excluding GST, according to the
Mumbai-based industry body India Bullion and Jewellers Association (IBJA).The demand for the precious metal usually spikes towards the end
of the year, as buying gold for weddings and festivals such as Dussehra and Diwali is considered auspicious
The report said that India's gold demand in the first three quarters fell by 49 per cent from a year earlier to 252.4 tonnes as COVID-19
quarter as rising prices attracted investors
This year, gold touched an all-time high on both COMEX as well as on the domestic bourses
The yellow metal consolidated after touching an all-time high of Rs.56,400, with uncertainties providing a rigid floor at the lower levels.
