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The price of gold in India continued to fall on Monday, according to its international peers. Dip the US dollar prices and the anticipation of the US Federal Reserve would begin to pair stimulus this year has maintained under pressure in recent weeks. On the multi-goods exchange (MCX), the December gold price jumped from 0.33% to 46,880 rupees at 0942 hours on October 11th. The price of money has also fallen on Monday. On MCX, the future of December silver decreased from 0.12% to 61,725 rupees on October 11.
On the international market, the price of gold remained flat on Monday. Spongy gold was flat at $ 1,756.25 per ounce of 0053 GMT. The future US gold were unchanged at $ 1,756.80. The dollar index fell by 0.1%. Treasury returns of 10 years of US reference have affected its highest level since early June Friday. US employers have added 194,000 jobs in September, well below expectations. However, the increased revisions of the data of the previous month mean that the economy is now composed of half of the employment deficit in December.
Some experts felt that the number of non-agricultural employment employment in August and September can retain the Federal Reserve to fulfill its monetary policy. However, other options have opined the overall employment of the employment report will not change the trajectory of the Fed of the … “but at least the job data has been injected a little more uncertainty about reflection on the market. Judge the reaction of the US Treasury market. , Bond traders believe that the Fed will remain on its “earlier than possible” to tighten American monetary policy, “said Amit Khare, AVP – Research Products, Ganganagar FotiCity Limited.
“International gold prices have begun to belong this Monday morning in Asian commerce, as markets have been taken between a dip in the dollar and fears that the US Federal Reserve did not start to pair stimulus this year despite data Weak jobs. Technically, LBMA spot Gold formed a rotating star candlestone pattern which is a sign for a bearish overthrow where less than $ 1760 will continue its bewildered by the support areas at $ 1740 to $ 1727. Resistance zones are nearly $ 1765 to $ 1776, “said Sriram Iyer, senior research analyst at Reliance Securities.
National gold prices could begin to dive this Monday morning, follow-up of overseas prices. Technically, if McX Gold December negotiates less than 47,000 RS, the markets could continue its momentum lowered up to 46,700-46,400 levels. Resistance to RS 47 100 to 47,300 levels, “added IYER.
On the price of money, analysts mentioned: “International money prices started to belong on Monday morning to Asian commerce. Technically, if the LBMA Silver continues below $ 23.20, the markets could continue its reduction momentum up to $ 22.30 to $ 21.20. Resistance is $ 23.50 to $ 23.77. Domestic money prices could start planting this Monday morning, follow-up of overseas prices. Technically, if McX Silver December negotiates below 62,000 rupees, the markets could continue its reduction momentum up to 61,000 to 59,500 levels. Resistance is 62,000 to 63,000 levels. “
“Now, the graphics of the two metals are looking for strong and Indian festival seasons are also taking place so that we can see the continuous purchase in gold money for this festival season, the RSI dynamic indicator Also indicating the same thing, so traders are invited to create new long and silver long positions in small dips, traders need to focus the important technical levels given below for the day: December GOLD CLOSING Price 47037, Support 1 – RS 46 900, Support 2 – Rs 46 700, Resistance 1 – RS 47 200, Resistance 2 – RS 47,350. Silver closing price December 61801, support 1 – RS 61 200, support 2 – RS 60 700, Resistance 1 – Rs 62 300, Resistance 2 – RS 62,800, “Khare added.
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