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Gold Price Today In India On 6 August 2021: Gold Trades Lower Today, Likely To Remain Below Rs 47,000 Mark
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gold price today: Gold futures plummet, hover near Rs 47,000/10 gm Time to take positions now?
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Domestic spot gold closed at Rs 49,195 per 10 grams on Wednesday, and silver at Rs 71,866 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
Here s what analysts say:
Mr. Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services:
“The yellow metal has continued to show strength and the safe-haven demand will remain intact in general. While, DXY is struggling to extend recovery moves. MCX gold has hit the higher end of the range around 49000, further upside is possible only if prices hold on to these areas for few sessions. Else a correction towards 48000/47500 should be seen.
Domestic spot gold closed at Rs 46,930 per 10 grams on Thursday, and silver at Rs 68,460 per kilogram - both rates excluding GST, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA). MCX Gold June gave a gap up opening and has been on a declining spree since then. It has declined more than 200 points and tested the support of 47000-46800 levels. We may expect a marginal rise from the support and test 47100- 47150 levels on the upside. This rise could act as a selling opportunity for the investors, said Kshitij Purohit, Product Manager, Currency and Commodities, CapitalVia Global Research Limited.
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