Gold Silver Price Today: Due to weak global signals, there is a softening in the bullion market. There is a sharp decline in the prices of gold and silver in the domestic futures market.
Gold Silver Price Today:Due to weak global signals, there is a softening in the bullion market. There is a sharp decline in the prices of gold and silver in the domestic futures market. Silver rate has fallen by Rs 560 on MCX. One kilogram of silver has reached the level of Rs 72400. Similarly, gold has also become cheaper. The gold rate on MCX has fallen by about Rs.30 and is trading around Rs.59100 per 10 grams.
Gold and silver in international market
There is also selling in the prices of gold and silver in the international spot market. The price of gold on Comax has fallen by more than $ 5 to $ 1970 per ounce. Similarly, the price of silver has also come down sharply to $23.7 per ounce.
The reason for the fall in gold and silver
The reason for the softening in the bullion market is the strength in the US dollar and bond yields. Actually, private payroll figures in the US have increased in July, which is giving support to the dollar and bond yields. Due to this, pressure is being seen on the prices of gold and silver.
Expert opinion on gold and silver
Commodity market expert and Vice President of IIFL Securities Anuj Gupta said that buy in gold and silver. Buy gold on MCX with a stoploss of Rs.59000. For this, there is an upside target of Rs 59700 and Rs 59800. Buy Silver on MCX with a stoploss of Rs.71800. There is an upside target of Rs 73500 per kg for this.
