Gold price today: Yellow metal trades higher, Rs 47000 crucial support
Experts are of the view that precious metals may remain choppy but the general bias would be on the upside amid weak dollar. February 16, 2021 / 10:12 AM IST
India Gold MCX April Futures are trading in the green on February 16 following positive trend seen in the international spot prices. Silver March Futures were trading higher by nearly 1 percent.
On the Multi-Commodity Exchange (MCX), April gold contracts were trading higher by 0.37 percent at Rs 47,418 for 10 grams at 0920 hours. March silver futures were trading 0.85 percent higher at Rs 70,728 a kilogram.
Experts are of the view that precious metals may remain choppy but the general bias would be on the upside amid weak dollar. Crucial support for the precious metal is placed at Rs 47000.
Crude Oil - Feb 16, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices rose on Tuesday morning and early afternoon trade in Asia as crude output from the U.S. could be impacted as a cold front shut wells and refineries in Texas.
Prices also gained amid geopolitical concerns in the middle east could raise supply concerns.
Meanwhile, capping prices gains Norway s oil industry employers struck a wage bargain with the Safe labour union on Tuesday, preventing a strike.
Technically, WTI Crude Oil is trading above $60.00 level where sustained trade above the level could see up to $61.30-$63.70 levels. Support is at $59.40-$58.70 levels.
Rupee Vs Dollar Today: Rupee settled at 73.69 against the American currency
Rupee Vs Dollar Today: The rupee settled on a flat note against the US dollar on Tuesday, February 16, at 72.69 (provisional) following a muted trend in the domestic equity market. At the interbank foreign exchange market, the domestic unit opened at 72.64 against the dollar and registered an intra-day high of 72.63. It witnessed a low of 72.85. In an early trade session, the local unit rose four paise to 72.64 against the greenback. The domestic unit finally ended at 72.69 against the American currency, registering a fall of just one paisa over its previous close. On Monday, February 15, the rupee closed at 72.68 against the dollar.
Gold price today: Yellow metal trades flat; March silver up over 1%
Gold may continue to witness mixed trade unless there are fresh triggers but general bias may be on the upside on US stimulus expectations. February 15, 2021 / 10:01 AM IST
Gold was trading flat but with a positive bias in Indian markets on February 15 following a positive trend in international spot prices. On the Multi-Commodity Exchange (MCX), April gold contracts were trading higher by 0.18 percent at Rs 47,402 for 10 grams at 0920 hours. March silver futures were trading 1.1 percent higher at Rs 69,925 a kilogram.
Experts expect precious metals to remain volatile. Gold is getting support from the US stimulus expectations, recent weakness in the dollar and mixed economic data from major economies.