Gold price today: MCX gold nears Rs 79,000/10 gm as US inflation print in focus
Gold price zoomed in Wednesday's session as weak market sentiment propelled safe-haven buying in the precious yellow metal.
Gold prices in Wednesday's session (December 11) extended their previous gains as safe-haven buying lifted sentiment. Nevertheless, the prices will remain choppy ahead of the key November inflation print in the US.
Gold price today: MCX gold rate
Gold price today: In the futures market, Gold February futures neared Rs 79,000 per 10 gm levels at the day's high, while last at around 10:14 am traded with gains of 0.51 per cent or Rs 402 at Rs 78,740.00 per 10 gm.
Gold price today: MCX price at 2-week high
Gold price today: Zee Business research inputs note that on the recent bullish trend in the precious yellow metal, gold prices are at their 2-week high level.
Gold price today: 24K and 22K gold rate
Gold price today: 24K gold in India is retailing at Rs 79,620 per 10 gm, while 22K gold is priced at Rs 73,000 per 10 gm.
Gold price today: Syria concerns boost safe-haven buying
Gold price today: Dr. Renisha Chainani, Head Research - Augmont - Gold For All noted that in Syria, various rebel factions are beginning negotiations to form a government while foreign powers like Israel and Turkey take positions. The increasing uncertainty in an already volatile region supports demand for the safe-haven metal.
Gold price today: China central bank begins its gold buying spree
Gold price today: The People's Bank of China increased its gold reserves in November after a six-month pause, while the country announced plans to ease its monetary policy. The increase in reserves in November equates to purchases of five tons of gold.
Gold price today: Chinese fresh stimulus support also aiding gains for gold, silver
Gold price today: Chinese government will be doling out fresh stimulus support in the early next year to boost its economy. Chinese stimulus talks also supported gold and silver prices
Gold price today: Spot gold rate internationally
Gold price today: Internationally, spot gold traded weak by 0.5 per cent or $13.52 at Rs 2,680.42 per ounce.
Gold price today: Gold price support and resistance level in international markets
Gold price today: Manoj Jain- Commodity Expert said even though gold is seen to remain volatile it could hold its key support levels of $2,588 and $29.88 per troy ounce levels respectively on a weekly closing basis. Gold has support at $2700-2684, while resistance at $2747-2762 per troy ounce and silver has support at $32.40-32.15, while resistance is at $33.00-33.30 per troy ounce in today’s session.
Gold price today: Support and resistance level for gold and silver on MCX
Gold price today: Jain added that gold on the MCX gold is having support at Rs 78,000-77,770 and resistance at Rs 78,700-79,000 while silver is having support at Rs 94,850-94,100 and resistance at Rs 96,200-96,850.
Gold price today: Trading strategy in gold and silver
Gold price today: Jain recommends buying gold above Rs 784,00 with a stop loss of Rs 78,140 for the target of Rs 79,000 and also suggest buying silver at around Rs 95,200 with a stop loss of Rs 94,450 for the target of Rs 96,600.