Gold Price Today: ‘Gold prices Crashed 2000 per 10 grams’ by Kshitij Purohit, Lead Commodities & Currency at CapitalVia Global Research Limited- Investment Advisor
Gold prices fell sharply in Indian markets today, On MCX, gold futures fell as much as ₹2000 to ₹50,824 per 10 gram as a selloff in global gold price. fall by 4% in a day because of the rise in the dollar index. With the new government almost confirmed US and hopes of large stimulus measures slumps the gold price, US Treasury yields and a climb in the equities toward its all-time closing high, which weighed down gold prices , The dollar has also rebounded and investors are running to book profits. The short-term range is ₹ 52000 to ₹ 48500 and Its retracement zone at ₹51800 – 52000 is resistance.