Gold-Silver Rate: Gold and silver prices continue to rise, gold crosses Rs 1.5 lakh, silver becomes costlier by Rs 3,000
Gold-Silver Price Today 20 Feb: On MCX today, February 20, silver prices rose by 1 percent to Rs 2,43,874 per kg, while gold prices also saw a slight rise and were trading at Rs 1,55,365 per 10 grams, up 0.2 percent. The main reason for this rise is the increasing tension between America and Iran.
US President Donald Trump has set only 10 to 15 days to negotiate a nuclear deal with Iran, after which tension has increased further. The US has increased its military presence in the region, and analysts believe it could be the largest military deployment since the 2003 Iraq War. In such a situation, investors are considering gold and silver as safe investments.
Condition of gold and silver in international market
In the global market, spot silver was down 0.1 percent at $ 78.29 an ounce, while spot gold was also trading down 0.1 percent at $ 4,995.91 an ounce. American gold futures were up 0.3 percent. Due to Lunar New Year, there was a decrease in trading in China, Hong Kong, Singapore and Taiwan, due to which there is a possibility of price fluctuations.
Meanwhile, MCX and NSE have withdrawn the additional margin imposed on precious metals, bringing relief to investors. Now the additional margin of 3 percent on gold futures and 7 percent on silver futures has ended.
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What is the opinion of experts?
However, the strength of the dollar has stopped the movement of precious metals to some extent. The dollar index has reached its highest level in a month, which has affected the international demand for gold. According to experts, there are important resistance and support levels for silver and gold. Support for silver is at Rs 2,25,000 and resistance at Rs 2,68,000. At the same time, support for gold is likely to be around Rs 1,50,000 and resistance around Rs 1,60,000.
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