Gold Price Today: There is a sharp decline in the prices of gold and silver. Due to weak global signals, there is a softening in the bullion market.
Gold Price Today: There is a sharp decline in the prices of gold and silver. Due to weak global signals, there is a softening in the bullion market. Gold and silver are trading with a decline in the domestic futures market. The price of gold on MCX has fallen by Rs 50 and is trading at Rs 58758 per 10 grams. Similarly, the price of silver has fallen by Rs.200. The price of one kg silver has come up to Rs 73377.
Gold price in international market
Gold and silver prices are falling in the international spot market. The price of gold on Comax is trading at $1940 per ounce. The price of silver has come down to $24 per ounce.
The reason for the fall in gold and silver
Bond yield and dollar index are up ahead of the Jackson Hole meeting. Dollar index has crossed 104. The US bond yield has reached around 4.24%. Similarly, pressure is being seen on the bullion market.
Expert opinion on gold and silver
Ravi Diora of Kunvarji said that there will be a rise in the price of silver. MCX has a recommendation to buy silver at Rs.73100. The target is Rs 74100 and the stoploss is Rs 72700. He said that softness can be seen in gold. Sell gold on MCX at Rs.58900 with a stoploss of Rs.59120. Can slip down to Rs 58400 per 10 grams.
