Gold Silver Price: There is also pressure on the price of gold in the international market. Once again gold has come down to $1800. Commodity market experts say that there will be this boom in the second quarter of the current financial year.
Today again the fall in the price of gold and silver.
Gold Silver Price: There is a lot of volatility in the rates of gold and silver between the new variants of Corona and the concern of inflation. Some days it sees an uptrend and some days its price remains under pressure. Amidst the boom in the stock market, today there is pressure on the price of gold. On MCX, gold for delivery in August was trading at Rs 47467 per ten grams, down by Rs 106 at 10 am. Similarly, gold for delivery in October was trading down by Rs 93 at Rs 47783 per ten grams.
There is also pressure on the price of gold in the international market. At this time it was trading at a level of $ 1,798.70 per ounce, down 0.26 percent ($ 4.70). Silver is also showing pressure and it was trading at the level of $ 25.25 an ounce. In the domestic market, silver for September delivery on MCX was trading at Rs 67025 per kg with a fall of Rs 112 (Silver price today). Similarly, silver for December delivery was down by Rs 82 to trade at Rs 68281 per kg.
In a report published in Money Control, Manoj Kumar Jain, Director of Prithvifinmart Commodity Research, said that there is a strong support for gold on MCX at the level of 47400-47180 while there is a strong resistance at the level of 47770-47920. Support for silver lies between 66800-66400 while resistance lies at 67700-68100. For silver, buy advice has been given at 66900 level and sell advice has been given at 68100. The stoploss for this will be the level of 66400.
Due to the volatility in the price of gold, the interest of investors towards Gold ETF has also decreased. The global holding in gold ETFs at the end of June was 3,624 tonnes, which is 7 per cent lower than in October 2020. The global holding at that time was 3909 tonnes. In terms of value, the global gold ETF holding was valued at $206 billion in June 2021. Today, gold again reached below $ 1800 in the international market, but commodity experts say that there will definitely be a jump in the price in the second half. Three main reasons are given for this.
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