New Delhi: On Wednesday, the prices of the gold and silver Gold silver prices today have seen a softening due to the news of vaccination of the Coronavirus. In the commodity exchange MCX, gold futures (Gold price today) was trading at Rs 50,410 per 10 gram, falling 0.18 percent or 0.18 percent. Silver futures were also priced at Rs 62,832 per kg with a softening of Rs 287 ie 0.34 percent. At the same time, gold and silver closed sharply on 10 November in the Indian market.
Gold and silver prices fell due to vaccine news
On Monday, the news of coronavirus vaccine came in heavy selling in gold and silver. Investors are moving towards the stock market by withdrawing money from gold. Experts say that gold-silver declined due to profit booking, but its value remains long-term.
Support level can be 50 thousand rupees
According to the money control news, market experts are advising that investors can buy gold on every decline. At present, the important support level of gold is seen at around Rs 50 thousand per 10 grams.
How much is the gold-silver support level?
The supports level of gold in MCX can be 50330-50000 while its resistance can remain at 50800-51000 level. At the same time, its support level is 62500-61800, while its resistance level is 63660-64400. Investors can buy gold at the level of Rs 50,000 and silver at the level of Rs 61800.
What caused gold prices to fall
American pharma company Pfizer and its German partner BioNTech SE claim that the coronavirus vaccine is 90 percent effective in Phase III trials. These two companies are the first such companies in the Corona era to present the data of large-scale use of vaccines and successful results. Pfizer says that it will seek permission from the USFDA this month for emergency authorization of its two-dose vaccine. But before that, the company will collect two months of safety data. During this time, clinical trials will be conducted on 164 confirmed cases so that the performance of the vaccine can be better assessed. Pfizer has said that the vaccine percentage of the vaccine in the study may change.
