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Gold Price & Silver Outlook: XAU and XAG Trading Bias is Lower

Gold Price & Silver Outlook: XAU and XAG Trading Bias is Lower
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Why gold, silver are poised to rise more - The Hindu BusinessLine


Why gold, silver are poised to rise more
Akhil Nallamuthu
BL Research Bureau |
Updated on
April 17, 2021
Technicals show both precious metals showing bullish signs after second straight week of gains
Despite India being one of the top gold consumers in the world, its bullion market has for long been quite loosely regulated. The government mandating the hallmarking of gold jewellery and artefacts by the sellers from June 1 2021, is a key step to change this and to apply a higher quality bar. It was originally planned to implement this from January 15, 2021 but was postponed due to the pandemic.
While gold contracts traded on Multi Commodity Exchange (MCX) are of 995 purity level i.e., 99.5 per cent gold, gold purchased in the physical market from jewellers was not always standardised. But this is set to change as new rules become effective. This can potentially prevent monetary loss to the consumers because under the new rules there is no room for under ....

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