ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » India News

Gold to get more expensive? Should you buy before it becomes out of financial reach? Analysis here

The spot gold seems positive on ease in US-China trade tension and Fed Chief's announcement of 'status quo' on interest rates. It can show $1325 levels in one month, say experts.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Gold to get more expensive? Should you buy before it becomes out of financial reach? Analysis here
In one month perspective the MCX gold prices may touch Rs 34,000 per 10 grams level, say experts. Picture source: PTI

On account of easing US-China stand off and Fed Chief's dovish stand on interest rates, the gold pries may continue to soar in coming times. Commodity experts have expressed that gold is moving in the range of $1280/ounce to $1325/ounce. At Multi Commodity Exchange (MCX) the gold is poised to touch Rs 33,900 to Rs 34,000 per ten grams in one month but not before some profit booking.

Speaking on the gold outlook for one month perspective Sugandha Sachdeva, Vice President at Religare Commodities told Zee Business online, "There are two major triggers that is leading the bull run in gold prices — expecting ease in US-China trade stand-off on upcoming trade talks and Fed Chief's announcement that there would be status quo on interest rates." She said that in spot market the gold price is having a strong support at $1280 per ounce and can move up to $1325/ounce levels.

See Zee Business video below: 

#ResultsOnZB | कैसे रहेंगे #IGL के दिसंबर तिमाही नतीजे, जानिए संदीप ग्रोवर से।@sandeepgrover09 pic.twitter.com/PckjOyod3g

— Zee Business (@ZeeBusiness) February 6, 2019

Giving cue about the gold movement at the MCX Sugandha Sachdeva of Religare Commodities told, "At MCX, Gold has strong resistance at Rs 32,500 per ten gram levels. But, I would suggest investors to wait for some profit booking and then only take a buy position for the target of Rs 33,700 which looks possible in one month time."

Standing in sync with Sugandha Sachdeve of Religare Commodities; Amit Sajeja, AVP — commodities and Currencies at Motilal Oswal told, "The gold looks positive in one month perspective and spot gold looks poised to touch the $1355 per ounce levels in next one to two months." Giving details of support level for the spot gold Sajeje said, "Spot gold has strong support at $1275 per ounce levels. At $1335-50/ounce levels, there would be some profit booking but if you take one year perspective gold may show the $1450/ounce levels." Giving gold outlook for one month Sajeje said, "Gold may show Rs 34,000 levels in one month and an investor can take a buy position at current market price maintaining a stop loss at Rs 33,200 levels."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
goldMarkets
Written By: Asit Manohar
Updated: Wed, Feb 06, 2019
03:47 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Gold investment strategy: Picking right instrument is the key, says this expert; this is what he suggests Gold investment strategy: Picking right instrument is the key, says this expert; this is what he suggests
Sovereign Gold Bonds: Last day to subscribe SGB Series 1; issue price at Rs 5,091 per gram, Rs 50 discount for online applicants Sovereign Gold Bonds: Last day to subscribe SGB Series 1; issue price at Rs 5,091 per gram, Rs 50 discount for online applicants
Gold Price Today: From intraday trading strategy in MCX Gold, Silver futures to outlook, here is all you need to know Gold Price Today: From intraday trading strategy in MCX Gold, Silver futures to outlook, here is all you need to know
Wealth Guide: Gold ETF vs Sovereign Gold Bonds - Pros & Cons and how to select one of them Wealth Guide: Gold ETF vs Sovereign Gold Bonds - Pros & Cons and how to select one of them
Sovereign Gold Bond Scheme 2022-23: Key dates of series 1, 2 tranche, subscription, issuance, and other important details Sovereign Gold Bond Scheme 2022-23: Key dates of series 1, 2 tranche, subscription, issuance, and other important details

LATEST NEWS

Apple iPhone 14 series launch: Check latest updates - expected release date, price, specifications and more

GST on online gaming, casinos, horse racing - They may be taxed like this! What Group of Ministers recommended?

Buy, Sell or Hold: What should investors do with Strides Pharma, MRPL and IEX shares?

Rakesh Jhunjhunwala-backed star health stock drops over 43% on IPO price—What should investors do?

Covid-19 cases today: India records 14,506 news covid cases, 30 deaths in last 24-hour, as per Union Health Ministry

PSEB 12th Result 2022: Punjab Board declares Class 12th result, Check steps to download score-card now

June Auto Sales Preview: PV, CV may report healthy numbers; 2-Wheeler sales likely to disappoint – Brokerages picks these auto stocks as best bet

Brokerage sees robust gas demand at 6.1% CAGR over next 8 years; maintains buy on GAIL, MGL, Gujarat Gas and Petronet

Stocks to buy: Sanjiv Bhasin picks HDFC AMC, Jubilant Food, Coforge for gains today; check why

ASCI releases advertisement complaints report; educational, healthcare products advertisements found most objectionable

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV