Thu. Jul 7th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Gold is struggling to rise up

1 min read

Gold bars

Gold prices struggled to edge higher today amid muted global trend. On MCX, February gold futures were up 0.15% to ₹49,149 per 10 gram after a two-day fall, while silver rates edged down 0.11% to ₹63,460 per kg. In the previous session, gold had dipped 0.3% while silver had edged up 0.12%. Intraday support for MCX gold seen near ₹48,820, below which corrective moves may gather momentum. Further buying can be expected only with firm move above ₹50,150.

In global markets, gold rates edged higher as muted US jobs data spurred concerns about swift economic recovery. Spot gold was up 0.1% at $1,836.54 per ounce. Among other precious metals, silver fell 0.1% to $23.94 an ounce, while platinum gained 0.2% to $1,028.71 and palladium was up 0.1% at $2,334.03.

Gold’s gains were however capped after a US government advisory panel endorsed widespread use of Pfizer’s coronavirus vaccine on Thursday.

Shots could begin within days, depending on how quickly the Food and Drug Administration signs off, as expected, on the expert committee’s recommendation, a top official had said earlier.

 

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.