Gold prices advanced over 0.50 per cent in early trade on Monday on bargain buying amid reports that the United States is set to impose a new round of tariffs on Chinese imports.
MCX Gold was trading 0.65 per cent up at Rs 30,635 per 10 gram in morning deals. White metal silver was also moving in tandem with the yellow metal.
MCX Silver was up 0.52 per cent at Rs 37,187 per 1 kg at around 10.35 am (IST).
SMC Global Securities in a report said, “Gold can take support near Rs 30,300 and can face resistance near Rs 30700 in MCX. While Silver can take support near Rs 36500 and it has resistance near Rs 37,300.”
SPDR Gold Trust GLD, the world’s largest gold-backed exchange traded fund, said its latest holdingsNSE 1.27 % stood at 742.53 tonnes, remain unchanged from previous business day. Latest holdings of the largest silver backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10,418.84 tonnes, remain unchanged from previous business day.
COMEX Gold prices have declined about 12.6 per cent from April amid intensifying global trade tensions and under pressure from rising US interest rates.
To Get Free Trial on Commodity Market Tips, Mcx Trading Tips give
Missed call @8817002233, WHATSAPP NO.8602780449
Mail Us = email@example.com
visit = https://www.starindiaresearch.com/mcx-tips.php