Metal futures rallies on MCX, Gold touches Rs 51,644 while silver peaks at Rs 68,500

Gold Futures today reached the high of Rs 51,644 per 10gm, before settling to Rs51,555 in mid-trade. Silver December futures witnessed a peak of Rs 68,500 per kg. The March, 2021 futures touched Rs 70,856 per kg.

Gold Futures today reached the high of Rs 51,644 per 10gm, before settling to Rs51,555 in mid-trade. Silver December futures witnessed a peak of Rs 68,500 per kg. The March, 2021 futures touched Rs 70,856 per kg.

The metal options traded higher today on the Multi Commodity Exchange (MCX) amid the US Federal Monetary policy decision. In the previous session, October gold closed at Rs 51,453 per 10gm.

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“As for today traders can buy gold at Rs 51,200 levels with the stop loss of Rs 50,700 levels for the target of 51,900 levels. Buy Silver at Rs 68,000 levels, with the stop loss of 67,000 levels and for the target of 69,800 levels,” said Anuj Gupta, Angel Broking Ltd

According to Reuters, “International gold prices rose on Friday as gloomy US jobs data cast a shadow over the economic outlook, and major central banks pledged to roll out further stimulus if required to revive their coronavirus-battered economies.”

Crude oil and Natural Gas touched Rs 3,042 and Rs 148.20 respectively.