Gold Price, Silver Price, Gold Silver News: In a major development, Reuters has reported that Vladimir Putin is open to discussing a ceasefire deal in Ukraine with Donald Trump, should Trump return to the White House. However, Russia has ruled out significant territorial concessions and insists that Ukraine abandon its ambition to join NATO, according to five sources familiar with Kremlin strategy. Following this news, there has been a slight decline in spot gold and silver prices. Spot gold dropped by $7, falling to $2,621.
These sources indicate that Putin could be open to freezing the conflict along current front lines but remains firm on limiting Ukrainian integration with NATO. This report marks the first detailed account of what Putin might accept in a deal negotiated by Trump, who has pledged to quickly resolve the conflict. Trump’s return comes amid a period of Russian advances, with Moscow now controlling a sizable portion of Ukraine, roughly equivalent to the U.S. state of Virginia, and making some of its swiftest territorial gains since early 2022.
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China’s Interest Rates Steady Amid Slower Growth
China’s central bank held its benchmark lending rates steady on Wednesday, with the 1-year loan prime rate at 3.1% and the 5-year LPR at 3.6%, as it evaluates existing stimulus impacts. This decision follows weaker-than-expected October growth in industrial production and investment. Morgan Stanley anticipates China’s growth to slow to around 4% annually over the next two years, while Goldman Sachs estimates a potential deceleration to 4.5% by 2025.
Japan’s Exports Rebound in October
Japan’s exports saw a 3.1% rise in October compared to the previous year, marking a recovery from a 1.7% decline in September. The increase surpassed economist predictions of a 2.2% rise, suggesting a positive shift from September’s downturn.
Market Alert: MCX Evening Trading Session Open Only
Due to the Maharashtra Legislative Assembly elections on November 20, 2024, MCX will remain closed for morning trading but will open for the evening session from 5:00 pm to 11:55 pm (closing at 9:00 pm for select agricultural commodities).
Motilal Oswal Market Outlook
Gold (MCX): Support at ₹75,500 – ₹75,250; resistance at ₹75,900 – ₹76,150.
Spot Gold: Support at $2,623 – $2,611; resistance at $2,640 – $2,652.
Silver (MCX): Support at ₹90,550 – ₹89,700; resistance at ₹91,800 – ₹92,500.
Spot Silver: Support at $31.20 – $31.00; resistance at $31.60 – $31.85.
Big Events of The Week
Wednesday, November 20, 2024
06:30 PM (EA): ECB President Lagarde Speech
Thursday, November 21, 2024
07:00 PM (US): Initial Jobless Claims (Week of November 16)
08:30 PM (US): Existing Home Sales (October)
10:55 PM (US): Fed Goolsbee Speech
11:00 PM (US): Fed Hammack Speech
Friday, November 22, 2024
03:00 AM (US): Fed Balance Sheet (Week of November 20)
08:15 PM (US): S&P Global Composite PMI Flash (November)
08:15 PM (US): S&P Global Manufacturing PMI Flash (November)
Gold Price Today – 20/11/2024
99.50% Gold: ₹78,300 (+400)
23 KT Gold: ₹76,300
22 KT Gold: ₹73,200
20 KT Gold: ₹66,700
18 KT Gold: ₹60,200
14 KT Gold: ₹48,000
9999 Silver: ₹94,000
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.