Gold was up by 1 per cent internationally.
Multi-Commodity Exchange (MCX), the contracts of gold in December were on a good position with a raise of 0.70 per cent.
Gold was trading flat after early US election results suggested a lead of Joe Biden.
The prices of gold and silver are usually like a roller coaster ride sometimes high and sometimes low.
Let’s see some trading strategies:
1. Ravindra Rao:
Gold was increased and traded high because of the reason of US election.
Mixed US economic data, rising virus cases are also some factors which led to the prices sometimes high and sometimes low.
The prices of gold will be like this until the results of US elections are out.
2. Sriram Iyer:
Everyone knows that Biden win will the election even as the possibility of a contested result remained.
MCX December gold gave a sharp fall from 51,450 which held the prices to its last year.
The pressure is very much as gold can’t see the downside.
MCX December silver earnings already show a loss of almost 2 per cent overall.
Silver started to trade below 62,000 which shows a negative side.
Once the election results are clear then there will be balance in the prices of gold and silver.
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