Markets News

Gold and Silver prices rise up on Budget Day – Read more

A positive outlook is seen in domestic market, closing on a positive note. With this, a very good result came out on the metal front.

Both the gold and silver metal bounced back on Friday amid fragility in the dollar indices along with trading in global shares.

Indian Gold MCX April futures jumped on the Budget Day. The international spot prices have reflected a very positive trend.

The March Silver Futures also jumped by 6 percent. The February-April contracts were also trading higher by 0.53 percent on the Multi-Commodity Exchange.

It was around Rs 49,597 for 10 grams at 0920 hours, also the March silver was trading at Rs 73,888 kilogram rising 6 percent higher.

Both the gold and silver prices settled on a productive note in the international market.

Gold April Futures closed at $1,849.60 per troy ounce. The silver March futures contract also settled at $27.06 per troy ounce respectively.

Silver is having the support of 9200-68500 levels along with resistance at 70700-71400 at MCX.

The precious metal has resistance at 49580-49770 backed with a support at 49100-48880 levels.

Experts have added to their conclusions that if MCX Gold April contract trades above 49300 a positive momentum up to 49500-49800 levels can be expected.

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