The case for lower global interest rates was boosted by a series of weaker-than-expected manufacturing reports. China’s Markit Manufacturing Purchasing Managers’ Index (PMI) for December dipped to 49.7 from 50.2 in November. Euro Zone Manufacturing PMI remained at its lowest level since February 2016.
|Comex Gold Price (Previous close)||$1.287.75|
|Gold price in India today (per 10 gms)||Rs31,895|
MCX gold prices moved higher in Thursday’s session after giving a gap up opening in line with the previous session's gains. Momentum indicator RSI also went above the 60-mark on the hourly charts, indicating high momentum in prices. Going forward, we expect prices to move higher towards the 32,000-mark.
|Date||Spot Price (Rs)||Futures Price (Rs)|