The broader range on COMEX could be between $1800-1840 and on the domestic front, prices could hover in the range of Rs 48,000- 48,500, said Damani.
The bullion metal has been trading lower than its 5, 20, 50, 100, and 200 days’ simple moving averages and exponential moving averages on the daily chart.
The gold-silver ratio stands at 75.24 to 1, which means 75.24 ounces of silver are required to buy an ounce of gold.
Gold has always been integral to festivals and celebrations in India, particularly so during Dhanteras and Diwali. We expect this Dhanteras and Diwali to be one of the best in recent years even when benchmarked to pre-covid seasons, said WGC India CEO Somasundaram PR.
Patel expects gold prices to trade sideways to down with COMEX spot gold resistance at $1,810 and support at $1,785 per ounce. MCX Gold December support lies at Rs 47,700 and resistance at Rs 48,200 per 10 gram.
The gold-silver ratio stands at 74.24 to 1, which means 74.24 ounces of silver is required to buy an ounce of gold.
The gold-silver ratio stands at 74.18 to 1, which means 74.18 ounces of silver is required to buy an ounce of gold
HDFC Securities' Tapan Patel expects gold prices to trade sideways to down with COMEX spot gold resistance at $1810 and support at $1785 per ounce. MCX Gold December support lies at Rs. 47900 and resistance at Rs.48400 per 10 gram.
The gold-silver ratio stands at 73.32 to 1, which means 73.32 ounces of silver is required to buy an ounce of gold
Patel expects gold prices to trade sideways to up with COMEX spot gold resistance at $1800 and support at $1770 per ounce. MCX Gold December support lies at Rs. 47200 and resistance at Rs.47800 per 10 gram.
The broader range on COMEX could be between $1,755-1,790 and on the domestic front, prices could hover in the range of Rs 47,050- 47,650, said Navneet Damani, VP – Commodities Research at Motilal Oswal Financial Services..
The spot gold-silver ratio currently stands at 74.20 to 1, which means 74.20 ounces of silver is required to buy an ounce of gold.
The broader range on COMEX could be between $1735- 1780 and on the domestic front, prices could hover in the range of Rs 47,020- 47,535, said Damani.
Gold prices are expected to trade sideways to up with COMEX spot gold resistance at $1,810 and support at $1,780 per ounce.
The bullion metal remained steady on major platforms as surging inflation and risk aversion sentiments improved appeal for the yellow metal.
Tapan Patel- Senior Analyst (Commodities) at HDFC Securities expects gold prices to trade sideways to higher with COMEX spot gold resistance at $1770 and support at $1740 per ounce.
Gold is expected to trade sideways to up with COMEX spot gold resistance at $1775 and support at $1750 per ounce.
The broader range on COMEX could be $1735-1775, and on the domestic front, prices could hover in the range of Rs 46,520- 46,960.
Tapan Patel- Senior Analyst (Commodities), HDFC Securities expects gold prices to trade sideways to down with COMEX spot gold resistance at $1,770 and support at $1,740 per ounce.
The broader range on COMEX could be between $1730- 1772 and on the domestic front, prices could hover in the range of Rs 46,180- 46,820, said Damani.
Patel expects gold prices to trade sideways to higher with COMEX spot gold resistance at $1770 and support at $1740 per ounce.
The broader range on COMEX could be between $1700- 1750 and on the domestic front, prices could hover in the range of Rs 45,700-46,235, said Damani.
The broader range on COMEX could be between $1,725-1,760 and on the domestic front, prices could hover in the range of Rs 45,750-46,370, said Damani.
MCX Gold October support lies at Rs 45,800 and resistance at Rs 46,300 per 10 gram, said Patel.
The momentum indicator Relative Strength Index (RSI) is at 38.44, which suggests bearishness in the prices.