MCD Gold trades above Rs 49,200 amid strong dollar
MCD Gold trades above Rs 49,200 amid strong dollar
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Gold price rose above Rs 49,200 per 10 gm on Thursday in Indian commodity markets tracking a positive trend in international spot prices. On the Multi-Commodity Exchange (MCX), February gold contracts were trading up by 0.60 percent at Rs 49,241 per 10 gram during the morning session. Also, March silver was trading 0.4 percent higher at Rs 63,631 per kilogram.

Analysts are of the opinion that any decline in the yellow metal will be an opportunity to buy. The next resistance level is seen at Rs 49,330, while the support level is at Rs 48,720.

Gold extended gains and crossed USD 1,830 per troy ounce in the international markets. Gold and silver futures contracts had settled on a combined note on Wednesday.  Gold February futures contract on the Comex division settled at USD 1830.20 per troy ounce, while March silver futures contracts settled at USD 24.08 per troy ounce.

Both the precious metals ended on a positive note in Indian markets. February gold futures contracts settled at Rs 48,947, while March silver contracts settled at Rs 63,325 per kilogram.

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