Gold 2 weeks low for the FED measures. Will it fall under RS 98K? Check what analysts say

The golden prices fell up to their 2 -week layer on RS 98052/10 grams, an increase in RS 223 or 0.24%, with a somewhat positive bias when investors the policy result of the Federal Reserve waited on Wednesday, although optimism around a potential trade agreement limited the metal profession.

In the meantime, Silver July Futures contracts also reflected the sentiment and traded them higher with 0.25% or RS 278 on RS 1.13.330/kg.

On Friday, gold and silver settled in a weaker note in the domestic and international markets. Gold August Futures Contract settled on RS 97,819 per 10 grams with a loss of 0.92% and Silver September Futures Contract settled at RS 1.13.052 per kilogram with a loss of 1.81%.

Gold and silver showed a heavy profit last week in the midst of a rebound in the dollar index and the trade agreement of the US and Japan. The Dollar Index returned for the Fed Monetary Policy Meetings and led to profit with precious metals. The trade agreement of the US-Japan also increased the hope for the USE-EU-Handel Agreement before the US Tar LiefdeAdline of 1 August and also pushed the gold and silver prices lower.

“The American trade rate uncertainty and geopolitical tensions support gold and silver prices at lower levels. The American trade agreement with numerous countries before the TariefdeAdline of August 1 looks impossible and the recent tensions between Thailand and Cambodia can support the prizes of Prithvinmart – said.

Today the US Dollar Index, DXY, was floating near the 97.73 point and won 0.09 or 0.09%. “We expect that gold and silver prices will remain volatile this week in the midst of volatility in the worldwide financial markets, the Fed Monetary Policy Meeting and the American Trade Rariff Deadline, but the golden prices could keep from $ 3,240 per Troy and silver prices can also be $ 36. Weekly closing basis.

How to exchange gold?

Manoj Kumar Jain presented the following series for gold and silver on MCX:

• Gold Has support on RS 97,440-97.100 and resistance on RS 98.280-98.600
• Silver has support on RS 1,12,200-1,11,000 and resistance on RS 1.14,000-1,15,115

Jain proposes to buy gold around RS 97,700 with a strictly stop loss of RS 97,380 for a target of RS 98,300.

Gold rates in physical markets

Golden Prize today in Delhi

Standard gold (22 carat) prices in Delhi are on RS 57,872/8 grams, while pure gold (24 carat) prices are on RS 61,760/8 grams.

Golden Prize today in Mumbai

Standard gold (22 carat) prices in Mumbai are on RS 57.528/8 grams, while pure gold (24 carat) prices are on RS 61,384/8 grams.

Golden Prize today in Chennai

Standard gold (22 carat) Prices in Chennai are on RS 56,808/8 grams, while pure gold (24 carat) prices on RS 60,400/8 grams.

Gold price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad are on RS 57,096/8 grams, while pure gold (24 carat) prices are at RS 60,808/8 grams.

((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)