In this article, we are going to look at Gold Prices. On 25th November 2023, Saturday is in between the range of $1,980 to $2,010 per ounce in the international market whereas on the other hand, the MCX gold rate today is between Rs. 60,800 to Rs. 61,700 per 10 grams. The gold price is Rs. 544 away from the lifetime high. Now in this article, we are going to analyze that does the p[price of gold is going to climb to its peak. Prices have a clear outlook and it is maintaining to buy on the dips strategy as the United States dollar is expected to remain weak.
Currently, there is a huge buzz about the United States Fed interest rate which has gone paused right now and falling the United States dollar index. On the other side, the prices of gold and silver have now bounced back from lower levels and now it has officially registered with more than 1% in the week. As per the weekly report, the MCX gold rate has ended at 1.07% higher at Rs. 61,379 per 10 gram levels. And the MCX silver rare has finished up at 1.02% higher at Rs. 73,915 per kg levels. It has happened after it ended at Rs. 61,370 levels but the MCX gold rate is just Rs. 544 per 10 which is away from its lifetime high of Rs. 61,914 per 10 grams. These prices were touched on 16th November 2023.
As per the market experts, the current outlook of gold and silver is very positive because the United States dollar has leased sheen continuously. Experts have claimed that the US dollar index has officially closed below 103.50 levels and there are changes that it is going to be down to 100 levels if it breaches the immediate support at 103 levels. There is advice that has been given to the investors by the experts that the investors should maintain their position.
Market experts have made a prediction that is a fresh high for the MCX gold rate if the metal breaches its immediate hurdle as if it gets placed at the $2,010 level in the international market. According to the reports, HDFC Securities has maintained that the silver rates on 25th November 2023, Saturday are in the $23.50 to $25 per ounce range. But the precious white metal on the MCX is in between Rs. 72,000 to Rs. 75,000 per kg range. If it breaches the Rs. 75,000 resistance the price of silver might go up to Rs. 78,000 in the term of short and medium.