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Gold price today: Yellow metal below 40k; crucial support placed at 38,400-39,000

Dear Writers, இத்தளத்தில் எழுத விரும்புகிறவர்கள், mspublications1@gmail.com என்ற மின்னஞ்சலிலோ சைட் அட்மினின் (smteam) தனி செய்தியிலோ தொடர்பு கொள்ளவும்.தளத்தில் கதைகளை பதிவது எப்படி- விளக்கம்

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Experts are of the view that volatility is likely to remain for some more time in Gold. The precious metal has strong support at 38,400-39,000 levels.
India Gold April futures fell below 40,000 levels per 10 gm but was trading with a positive bias on Tuesday, tracking volatility in international spot prices which continue to remain under pressure amid heightened panic over the coronavirus pandemic.
International Monetary Fund Managing Director Kristalina Georgieva on Monday said 20 additional countries had asked about receiving aid as the outbreak halts economic activity, and she called for strong, coordinated fiscal stimulus to limit the damage, said a Reuters report.
Spot gold slipped towards $1,511.30 per ounce, having slumped as much as 5.1% on Monday to its lowest since November.

On the Multi Commodity Exchange (MCX), April gold contracts were trading higher by Rs 132, or 0.33 percent, at Rs 39,650 per 10 gram at 09:20 hours.
India Gold April futures stabilised after witnessing a black Monday for global financial markets. The heavy selloff is seen again across asset classes despite U.S. Federal Reserve emergency interest rates cut.
The U.S. Dow Jones hit a lower circuit again and panic selling was seen in other international markets. Precious metals were not spared as Gold test $1451 in the intraday session and silver prices slipped 16 percent and crack $12 per troy ounce.
Experts are of the view that volatility is likely to remain for some more time in Gold. The precious metal has strong support at 38,400-39,000 levels.
“Precious metals also come under pressure due to heavy sell-off in global equities, increasing the margin on bullion futures, sell-off by gold ETF and lower consumer demand amid lockdown from coronavirus. We expect volatility to continue in both the precious metals,” Manoj Jain, Director, IndiaNivesh Commodities, told Moneycontrol.
“Gold is expected to trade in the range of $1,470-1,555 per troy ounce and silver is expected to be traded in the range of $12.20-14.40 per troy ounce. At MCX, gold prices are expected to be traded in the range of 38,400-40,500 levels,” he said.
Jain further added that Silver is expected to be traded in the range of 35.500-38,400 levels while long-term investors can accumulate silver in a staggered manner in every dip from 35,500-32,500 range.
 




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