Gold Price Today: The price of gold and silver is falling again today. The price of gold has come down by Rs 2,800 from its recent peak. Silver has also come down from its all-time high. Know how much is the price of gold and silver now…
Gold Price Today: The price of gold is falling today. The June futures contract of gold on MCX started with a slight weakness. It opened at Rs 96,397 per 10 grams, down by Rs 723 or 0.74%. However, it closed slightly higher in the previous session. Gold prices have now fallen by Rs 2,800 per 10 grams. Recently it had reached a high of Rs 99,214 per 10 grams. The July futures contract of silver also started with a slight decline. It opened at Rs 1,06,524 per kg, down by Rs 563 or 0.53%. However, it had set a new record of Rs 1,07,171 per kg.
On Monday, both gold and silver closed in the green in the domestic and international markets. Gold August futures contract closed at Rs 97,173 per 10 grams with a gain of 0.14%. At 11.30 am, it was trading at Rs 96,713, down 460 points. In early trade, it went down to Rs 96,276 and up to Rs 96,770. Silver July futures contract closed at Rs 1,07,087 per kg, up 1.54%.
Price fluctuations
Gold and silver prices witnessed a lot of volatility at the start of the new week. Gold prices fell in early trade. This happened because the US and China resumed talks in London over the trade deal. But, prices rose from the day’s low due to weakness in the dollar index and a fall in US bond yields.
There was another reason for the change in gold prices. China’s central bank became a net buyer of gold for the seventh consecutive month in May. Experts say that investors are cautious and are looking for safe investment in gold amid uncertainty over the final trade agreement between the US and China. People are considering gold as a safe option because they do not trust the trade agreement between the US and China.
How far will the price go
Experts say that the support level for gold is Rs 96,600-96,180 and the resistance level is Rs 97,700-98,200. The support level for silver is Rs 1,06,000-1,04,800 and the resistance level is Rs 1,08,000-1,09,400. Jain suggests buying silver around Rs 1,06,500-1,06,000. For this, keep the stop loss at Rs 1,04,800 and the target at Rs 1,07,700-1,08,500. Stop loss is a point where you will sell your position to minimize losses.
Most Read Articles:
- Airport Rules change: Now don’t carry these medicines in your handbag during flight from this airport, otherwise you will be fined heavily
- SIP Investment: How much monthly SIP needed to create 10 lakh fund and best strategy, know here
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
