Gold / Silver - Oct 21, 2020 - Angel Broking

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

"Yesterday Gold and Silver increased sharply on the back of expectation of covid - 19 stimulus package before US election. Correction in Dollar index also supportive for Gold as a safe haven asset. Gold increased by 0.44% and closed at 50910 levels and silver increased at 1.66% and closed at 63,124 levels. In international market gold is trading at $1918 per ounces and Silver is trading at $25.00 per ounces. On domestic front the physical demand of gold and silver increasing on Festival demand. As for today traders can go for buy in gold at Rs 50,900 levels with the stop loss of Rs 50650 levels for the target of 51500 levels. They can also go for buy in Silver at Rs 63,200 levels, with the stop loss of 62,400 levels and for the target of 64,400 levels. We expect gold may test $1950 and Silver may test $26.50 levels soon."

Source : Equity Bulls

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