Gold Silver Rates Today: Due to the weak signals from the global market, the bullion market is also witnessing softness. There is a fall in the prices of gold and silver in the domestic futures market.
Gold Silver Rates Today: Due to the weak signals received from the global market, the bullion market is also showing weakness. There is a fall in the prices of gold and silver in the domestic futures market. The price of gold on MCX has slipped up to Rs.100. The price of 10 grams of gold has slipped to Rs 59025. Similarly, the price of silver has also fallen by Rs.150. The rate of silver on MCX has come up to Rs 72314 per kg.
Gold and silver in international market
There is also sluggishness in the price of gold and silver in the international spot market. Gold price on Comax is trading below $1945 per ounce. Similarly, the price of silver has also fallen. The price of silver on Comax is below $ 23.45 per ounce.
The reason for the softening in the prices of gold and silver?
The main reason for the fall in gold and silver prices is weak global signals. Because due to rise in crude, dollar index and bond yield, there is a softening in the bullion market. Dollar index has crossed 105. The 10-year US bond yield has crossed 4.3 per cent. Brent crude is also trading above $90 per barrel.
What is the expert’s outlook?
Bhavik Patel of Tradebulls Securities said that gold will see a rise. So buy gold on MCX with a stoploss of Rs.58850. Its price will go up to Rs.59250. While there is a possibility of softening in silver. Sell Silver on MCX with a stoploss of 73100. The price of one kg of silver can slip up to Rs 72000.
