Due to increase in geopolitical risk, gold on MCX has gained 2.15 percent to reach Rs 51750 per 10 grams. In today’s trade, gold has gained about Rs 1300.
Gold Prices Today: Gold’s shine has increased due to Russia’s declaration of war against Ukraine. Due to increase in geopolitical risk, gold on MCX has gained 2.15 percent to reach Rs 51750 per 10 grams. In today’s trade, gold has gained about Rs 1300. At the same time, in the international market too, gold has reached the price of $ 1950 per ounce. Investors are exiting equities and buying gold due to safe haven assets. Experts say that the outlook for gold in the near term is very strong due to increasing geopolitical risk. Gold can touch the price of Rs 53000 per 10 grams in the short term itself.
Their increased prices including gold and silver
While gold is up 2.15 per cent today due to increased geopolitical risk, silver has also gained 2 per cent. Crude has gained more than 5 percent and has crossed $ 101 per barrel. The rupee has depreciated by 0.59 percent against the dollar. The prices of natural base have gone up by more than 6 per cent. At the same time, nickel has increased by 2 percent and aluminum has also increased by 2 percent.
short term trader how to make profit
Anuj Gupta, VP (Research), IIFL Securities, says that gold is trading near $ 1950 an ounce in the international market. It can show a level of $ 1980 an ounce in the next few days and after that its next stop will be $ 2050 an ounce. At the same time, silver can also show the level of $ 27 very soon and after that $ 30.
If you are a short term trader then buy gold around Rs 50500 per 10 grams. Put a stop loss at Rs 48800 and buy by making the first target Rs 53000 and the second target Rs 55000. On the other hand, buy silver at a price of Rs 65000 per kg, while put a stop loss on Rs 62500 per kg. For silver, keep the first target of Rs 68000 and the second target Rs 70000 per kg.
Why will gold get support?
Experts say that the rise in gold will continue in the near term. Due to the deepening of the Russia and Ukraine crisis, there is pressure on the stock markets around the world. Crude prices are at an 8-year high of $ 101 a barrel. At the same time, factors like inflation, fear of interest rate increase and increase in bond yield are also present in the market. Due to this, gold prices will get support.
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