Gold Prices Dip For Fourth Straight Day: 5 Points

As it stated in Gold prices declined by Rs 40 to Rs 31,360 per 10 grams on Tuesday, driven by a weak trend overseas amid fall in demand from local jewellers, reported news agency Press Trust of India (PTI). Marketmen said that apart from a weak trend overseas, a fall in demand from local jewellers and retailers at the domestic spot market mainly kept gold prices lower. Here are key things to know about gold and silver prices today:1. Gold prices recovered from a nearly seven-month low on Tuesday as dollar eased and Asian shares sank amid heightening trade friction between the United States and major economies. In sync with gold, silver ready eased by Rs 50 to Rs 40,300 per kg and weekly-based delivery cracked below the Rs 39,000-mark by falling Rs 95 to Rs 38,945 per kg.

Gold Prices Risk Larger Rebound Following Failed Run at December-Low

Gold Talking PointsGold prices appear to be on the cusp of a larger rebound following the failed attempt to test the December-low ($1236), and recent price action brings the topside targets back on the radar as the Relative Strength Index (RSI) finally bounces back from oversold territory. Gold Prices Risk Larger Rebound Followed Failed Run at December-LowThe monthly opening range remains in focus for gold as it snaps back from a fresh 2018-low ($1238), and the precious metal may stage a more meaningful recovery over the coming days as there appears to be a near-term change in market positioning. At the same time, the number of traders net-short is 1.1% lower than yesterday and 11.1% lower from last week, which suggests the recent volatility in gold prices could be a mere function of profit-taking behavior. Gold Daily ChartGold prices have faced marked selloff even after the death-cross formation took shake, but the failed run at the December-low ($1236) raises the risk for a larger rebound, with a break/close above the $1260 (23.6% expansion) hurdle bringing the topside targets back on the radar. For more in-depth analysis, check out the Q3 Forecast for GoldInterested in having a broader discussion on current market themes?

Gold Prices Rise For Second Straight Day: 5 Points

As it stated in Gold Price: Sovereign gold, however, remained unaltered at Rs 24,800 per piece of eight grams. Silver prices too surged by Rs 690 to Rs 40,600 per kg backed by increased offtake by industrial units and coin makers. Traders said continued buying by local jewellers at the domestic spot market and a better trend overseas mainly kept gold prices higher. Here are key things to know about gold and silver prices today:1. In line with gold, silver ready jumped up by Rs 690 to Rs 40,600 per kg, while weekly-based delivery shed Rs 60 to Rs 39,200 per kg.

Gold Prices Surge After 4-Day Fall: 5 Things To Know

Gold Price: Sovereign gold, however, remained flat at Rs 24,800 per piece of eight grams. However, silver remained under selling pressure and slipped below the Rs 40,000-mark by plunging Rs 390 to Rs 39,910 per kg. Traders said sentiment bolstered after gold prices rose to a one-week high in global markets, rebounding from a seven-month low touched in the previous session, as a softer US dollar stoked demand for the yellow metal. Here are key things to know about gold and silver prices today:1. Silver coins, however, maintained a steady trend at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

collected by :kiven Dixter