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Below is the Views On Gold all time high by Reliance Commodities by Mr. Pritam Kumar Patnaik, Head Commodities, Reliance Commodities.
"The US-China trade war with new tariff announcement has pushed gold and silver prices to a new six-year high as investors rushed for safe-have assets. Depreciating Indian rupee also helped the rise in prices. We expect the current trend to continue for gold and silver. On the MCX, the Gold is likely to move towards 39,900 to 40,000 levels. Saying that 38,800 and 39,000 act as a strong crucial support levels for gold on the downside. Similarly we expect positive trend to continue for silver with prices expected to move higher towards 48,000 levels in coming days with 45,900 and 46,200 as support levels on downside."
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