Gold Outlook: Gold and silver prices saw improvement on Tuesday 9 March due to softening in bond yields and weakness in the dollar. Gold returned to close to 44800. At the same time, silver is also trading at a level of Rs 67000 per kg. However, on March 10, there is pressure again. Experts say that bond yields may remain soft. At the same time, physical demand is expected to rise from the lower levels in gold and silver. Gold is attractive at record highs and is at a discount of more than Rs 11000 per 10 grams. In such a situation, gold is seen increasing in the short term. If we talk for a day or two, then bets can be made if there is a fall.
Fast may come in the short term
Anuj Gupta, deputy vice president, commodity and currency, Angel Broking, says that the 10-year Treasury yield in the US has moderated. The bond yield has come down to 1.54 per cent. At the same time, there has been some weakness in the dollar, due to which gold prices have got support. Further lowering can be seen from lower levels. At the same time, when crude is near the 1-year high, gold is also expected to be bought as an inflation hedge. In such a situation, gold can be expensive in the short term.
Gold can soon be expensive up to $ 1730 in the international market. There is a fear of corruption in the equity market due to high valuation. In big countries including the US, it will take time for the economy to become normal again. At the same time, central banks have also indicated buying in gold. Gold will also be supported by this.
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How to make a profitable strategy
Anuj Gupta says that in case of short term if gold falls, buy at the rate of Rs 44500 per 10 grams. For this, make a target of Rs 45300 per 10 grams for the next few days. At the same time, apply a stop loss at the price of Rs 44200. They say that one should buy silver at the rate of Rs 66600 per kg and for this target of Rs 68000 per kg. Apply a stop loss at a price of Rs 65900.
(Note: We have given the information here on the basis of interaction with the expert. Investments in the market are subject to risk. So take the opinion of the expert before investing.)