Technically, the MCX Gold August contract made a high of Rs 49,230 levels where it fails to cross its previous all-time high level of Rs 49,348, moreover, it gave a sharp fall up to Rs 48,710 levels indicating some exhaustion of prices at this levels. Resistance holds at Rs 49,050-49,230 level and Support is at Rs 48,600-48,450 levels. … [Read more...] about Gold price today: Yellow metal trades strong; deploy buy on dips for a target of Rs 49,200-49,600
Looking at the gold-silver ratio, it fell from a ten-year high of 127 in March and stood at 96.5 in July 2020. These levels are still very high and suggest an upside move in silver prices. According to Silver Institute, global mine production could fall by 7 percent in 2020 on the temporary shutdown of operations due to COVID-19 outbreak. … [Read more...] about Silver will continue to rise on strong demand, may hit Rs 57k in 2H CY20
So questions have been raised on whether this trend can be sustainable since pent-up demand will eventually get exhausted and the market will have to then survive on the fundamental demand. Though manufacturers themselves are not able to clarify if the sales trend will sustain itself given the widespread disruption by COVID-19, some initial trends in retail off-take may provide a better understanding. … [Read more...] about This week in Auto: Has real demand picked up?
“Five months ago, I would have laughed at the idea of combining manufacturing and ‘work from home (WFM)’. But it was happening; work was still going on using video interface technologies. We are able to bring in the entire shop floor, vehicle assembly, pre-assembly and simulation onto the computer. We were able to make close to 7,200 changes on the shop floor and revive the mechanisms. While starting is easy, restarting is much more struggle.” … [Read more...] about Demand hits new peak at Hyundai as company starts third shift
"The markets exhibited a high correlation with the global markets and with the virus infections hitting day highs in India, the uncertainty caught up with the markets. Global markets were weak following rising infections in US and US-China tensions being back in the news," Vinod Nair, Head of Research at Geojit Financial Services told Moneycontrol. … [Read more...] about Taking Stock: Financials drag market; Sensex plunges 600 points, Nifty holds 10600