Gold becomes cheaper by more than Rs 500, silver below Rs 66,000; buy gold near Rs 50800 — Gold Price Prediction, Gold Price Outlook

Gold Rates Today, Gold Prices in India February 25, 2022: Gold prices in India fell on Friday, even as rates in the international market rose.

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India fell on Friday even as rates in the international market rose. On Multi Commodity Exchange, April gold futures fell Rs 530 or 1.03% to Rs 51,014 per 10 grams, from the previous close of Rs 51,543. were seen at 65,725 rupees per kg, down 1,173 rupees or 1.75%. Overall, yellow metal prices rose, stabilizing after a volatile session, as investors reassessed the situation surrounding Russia’s invasion of Ukraine and new sanctions against Moscow by the West, according to Reuters. Spot gold rose 0.3% to $1,909.06 an ounce, while US gold futures fell 0.8% to $1,910.70.

Tapan Patel, Principal Analyst — Commodities, HDFC Securities

Gold prices traded firm on Friday, with COMEX spot gold prices trading 0.46% higher near $1912 an ounce in morning trade. April MCX Gold futures opened lower near Rs. 51,035 per 10 grams. under pressure from a stronger rupee. Gold prices fell 17 months after Russia invaded Ukraine and imposed sanctions on Russia by the United States, which investors consider weaker than expected. However, prices are still holding a support range at $1870 an ounce in view of the US FOMC position in March. We expect gold prices to trade sideways for the day with COMEX Spot gold support at $1870 and resistance at $1970 per ounce. MCX Gold April support stands at Rs. 50800 and resistance at Rs. 51800 per 10 grams.

Anuj Gupta, Vice President, IIFL Securities

Yesterday, Mcx Gold prices rose sharply by 2.31% and closed at 51543 levels, but touched the intraday high of 52797 levels. In the spot market, it touched the levels of $1974.30, the highest levels in 17 months. The demand for refuge due to the war between Russia and Ukraine and crude oil prices reaching the levels of $105 provide support for the yellow metals. For intraday traders, we recommend buying gold around the 50800 – 50900 levels with the 50450 stoploss for the 51800 – 52000 levels target. $1950 to $1980.

Navneet Damani, Senior Vice President – Commodities and Currency Research, Motilal Oswal Financial Services

The price of gold rallied nearly $70 in one day and then fell from the high, erasing most of the gains. Russian-Ukrainian tensions continue to play a major role in geopolitical risk; Russia “officially” invaded Ukraine; continuous updates regarding strikes and attacks heightened market distress. On top of that, the US and its allies have also reacted with more sanctions to punish Russia with “economic damage”. However, markets were expecting tougher sanctions, including Russia’s withdrawal from the SWIFT financial messaging system. On the other hand, after this chaos seen during the 1st half of the session, the United States announced a better than expected GDP, which shifted the market’s attention to the important Fed policy meeting scheduled. next month. Few Fed officials mentioned in their speech the risk of geopolitical tensions that could hamper the monetary policy decision, although investors anticipated aggressive rate hike action. A cautious approach is advised as further updates in geopolitical tensions could further increase market volatility. A broader trend on the COMEX could be between $1900 and $1940 and on the home front, prices could swing between Rs 50,500 and 51,600.

Ravindra Rao, CMT, EPAT, Vice President of Commodities Research, Kotak Securities

COMEX gold is trading slightly lower near $1915/oz, pulling back further from the September 2020 highs set in the previous session. Gold fell off the highs as risk sentiment stabilized as market participants weighed the impact of sanctions imposed by the United States and other Western countries in response to the onslaught of the Russia versus Ukraine. Falling crude oil and other commodity prices from recent highs have also dampened gold’s appeal as an inflation hedge. Gold has moved off the highs, but with the prospect of heightened tensions between Russia and world leaders, risk sentiment may remain low and that may keep gold supported.

(The views expressed in this story are expressed by the respective experts at the research and brokerage firm. Financial Express Online takes no responsibility for their advice. Please consult your investment advisor before investing.)

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