+ Follow us On Google

After four consecutive days of decline, gold and silver prices rebounded on Wednesday, amid softer US employment data and caution ahead of several delayed macro releases. The yellow metal today traded over 1% higher at Rs 1,23,880 per 10 grams on the MCX, while silver was up by 2.5% to trade at Rs 1,58,460 per kg. However, the gold price is over 5% lower than its all-time high of nearly Rs 1,30,500 recorded in mid-October. Will it fall further? Analysts say the yellow metal has a major support at Rs 1,20,000 ($3,950 an ounce), the price level that is difficult to breach in the near term.

In the physical market, in Mumbai, the price of 24-carat gold stood at Rs 1,24,860 per 10 grams, while 22k gold was available at Rs 1,14,450 per 10 grams. These rates do not inclu

See Full Page