Gold / Silver - Nov 26, 2020 - Angel Broking

Mr. Anuj Gupta - DVP - Commodities and Currencies Research, Angel Broking Ltd

"On Wednesday, Spot gold prices ended marginally lower by 0.12 percent closing at 1805 per ounce as optimism over a potential vaccine against the pandemic continued to weigh on Gold prices; however, a sudden spike in the U.S. unemployment claims limited the fall. The number of Americans applying for the jobless claims increased as the ongoing crisis continued to hamper the labour market in the world's largest economy.The yellow metal also found some support as depreciating U.S. currency made the dollar denominated Gold cheaper for other currency holders. Global central banks are also expected to keep their interest rates low in an attempt to get the economy back on track which is also supportive for Gold. As for today traders can go for BUY in gold at Rs 48300 levels with the stop loss of Rs 47900 levels for the target of 48900 levels. They can also go for BUY in Silver at Rs 59,500 levels, with the stop loss of 58800 levels and for the target of 60800 levels."