Gold Rate & Silver Price Update – On Nov 11th 2020

On November 11, the Indian Gold Rate was not good and experts are advising the investors to buy the dips as long as the yellow metal holds on to the crucial support at 50,000.

On the Multi-Commodity Exchange (MCX), December gold was trading lower by 0.18 per cent.

December silver was trading at 0.34 per cent lower.

On Tuesday the gold and silver in the international markets were at the good position because of the COVID vaccine news.

In the domestic market, both the precious metals also settled on a positive note.

Gold and silver reacted to vaccine news on Monday and heavy selling is observed in both the precious metals.

Let’s see the trading strategies:

1. Sriram Iyer:  on Tuesday the gold and silver saw some good opening otherwise for some time they were lower in the markets.

There are economic risks because of the increasing coronavirus in the world.

2. Ravindra Rao: Gold is range-bound as support from rising virus cases.

The central banks may do more to boost economic recovery and they are anyways doing a lot for the country.

There is so much uncertainty because of covid in the market and economy as each passing day is a new day.


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