Gold and silver prices steady amid market volatility – The Times of India

Gold silver fee (File picture)

The prices of gold remained steady on Saturday at Rs 76,650 per 10 grams, marking a modest enhance of 0.10% whereas silver hovered round Rs 97,260 per kilogram at 1:20 pm.
On Friday, gold April futures contracts on MCX ended flat at Rs 85,820 per 10 grams, down by 0.07%, or Rs 57. Equally, silver Could futures closed flat however with a slight optimistic pattern, at Rs 97,280, up by Rs 79, or 0.08%, based on ET report.
Market consultants point out that gold faces sturdy resistance at $2,915-$2,925 on COMEX, with the important thing resistance degree for MCX pegged at Rs 86,400. Help is predicted between Rs 84,500 and Rs 84,000. A minor correction of Rs 400 was famous on Friday.
Based on Jateen Trivedi, VP Analysis Analyst at LKP Securities, volatility is predicted to persist, notably with the discharge of key US financial information, together with Nonfarm Payrolls and Unemployment figures. Gold’s buying and selling vary is anticipated to stay between Rs 84,000 and Rs 86,500.
Gold has lengthy been considered as a secure haven asset as a result of its enduring worth throughout occasions of financial uncertainty, market fluctuations, and geopolitical instability. Not like paper currencies, which might lose worth by way of inflation or authorities insurance policies, gold maintains intrinsic price, making it a popular funding alternative throughout monetary crises and intervals of forex devaluation.
Gold prices in bodily markets (March 8)
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Mumbai

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(Disclaimer: The opinions, analyses and suggestions expressed herein are these of brokerage and don’t mirror the views of The Times of India. All the time seek the advice of with a certified funding advisor or monetary planner earlier than making any funding choices.)