MCX Gold Tips & Trading Strategy: On the Multi-Commodity Exchange (MCX), the gold contracts were up 0.09 percent to Rs 47,968 for 10 grams at 9.20 am on November 22. Silver futures gained 0.14 percent to Rs 64,660 a kilogram.
“After the news of Powell’s reappointment, the US treasury yields surged as traders are perceiving that a more dovish policy may be paving its way. We expect this weakness in gold to continue till Rs 47,500.