Gold Silver Price 17th July: Gold and silver prices are witnessing profit booking after last week’s rise. A sharp decline in the prices of both is being recorded on MCX.
Gold Silver Price 17th July: Gold and silver prices are witnessing profit booking after last week’s rise. A sharp decline in the prices of both is being recorded on MCX. The price of gold has fallen by Rs 154 on MCX.
The price of 10 grams of gold has slipped to the level of Rs 59150. Similarly, the rate of silver has also slipped by Rs.400. Silver rate on MCX is trading around Rs.75500. The effect of recovery in dollar is also being seen on the bullion market.
Gold and silver in international market
There is also a softening in the prices of gold and silver in the international spot market. The price of gold on Comax has slipped to $1956 per ounce. Similarly, the price of silver has also gone up.
The rate of silver on Comax has reached $25 per ounce. Earlier, in the last week, the price of silver rose by 8 percent, which is a 9-week high. Gold also closed up for the second consecutive week.
Expert opinion on Gold and Silver
The rise in silver prices may continue further. Amit Sajeja of Motilal Oswal Financial Services said that the rate of silver on MCX will increase further. There is a target of Rs 76200 per kg for this. Keep a stoploss of Rs 74500 for this trade.
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