Gold Price Today Jumps Over Rs 48,100

Gold price today in India jumped sharply, November 8. On the Multi-Commodity Exchange (MCX), December gold price rose 0.30 per cent to Rs 48,114 for 10 grams at 0950 hours on November 8.

Gold Price Today Jumps Over Rs 48,100

Silver price also witnesses an increase on Monday. Silver was trading at Rs 64,820, up by 0.76 per cent on November 8. Last week, the Federal Reserve had announced tapering of its asset purchases. The US economy had added more than 500,000 jobs in October.

Rising inflation pressures and central banks that are in no hurry to raise interest rates are boosting sentiment in the gold market as prices look to end the last week above $1,800 an ounce. The 10-year US Treasury note yield was fetching 1.45 per cent.

Gold Price Today

“We saw good buying in bullions at lower levels which may continue for next few trading sessions. As per technical chart both metals are ready for upside movement, Momentum indicator RSI also indicating the same on daily chart. So traders are advised to make fresh buy positions in Gold and Silver in small dips.

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Gold Price Today Jumps Over Rs 48,100 via @marketinvestor
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