FUTURE PREDICTIONS OF GOLD AND SILVER IN COMMODITY MARKET

On Friday Gold rose by Rs 122 and stood at Rs 32,056 per 10 gram. Traders widened their bets for their metal overseas. In the Multi Commodity Exchange, gold showed growth of 0.38%. With raising bets by traders at current levels, gold prices will likely to push in the futures trade. According to the assumption, Gold can touch to Rs 32,320 on MCX. Globally this metal is trading with a rise of 0.7 percent in Singapore at USD 1,292.90 an ounce.

Gold is stood at this level as investors are waiting for U.S jobs report to predict future growth of the economy. Spot gold is up by 0.1 percent but is down by 0.5% as weekly average. U.S gold futures were also up by 0.1 percent at stood at $1,287.60 an ounce. Another precious metal like Platinum stood at $813.50, Palladium slipped by 0.4 percent to $1522.03 an ounce and Silver is up by 0.1 percent in the Indian and international commodity market.

Meanwhile, Gold is expected to touch Rs 32,320 in the commodity market. We recommend you to sell Gold with the S.L of Rs 32,400 per 10 gm in future. Silver can be bought at current level of Rs 38,200 with the S.L of Rs 37,850 per kg. In future, Silver may also touch to Rs 38,800 per kg.

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