Gold Price Today 10-05-2021: Silver has OUTPERFORMED Gold in 2021, says this expert; outlook remains strong for bullion, recommends BUY

Gold Price Today 05-05-2021: The outlook for Gold and Silver remains positive in the near term. Investors who are willing to invest in Gold and Silver can go ahead and invest, Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities. But the real outperformer has been Silver, which has gained by over 6 per cent or over Rs 4100 since January 2021, Gupta said.

Meanwhile, the Gold Prices have been in the negative territory correcting by almost 4.5 per cent or over Rs 2000.

See Zee Business Live TV Streaming Below:

While the returns have been better for Silver, there is an opportunity to buy gold and catch up, he further said.  

He said that the price of Gold and Silver is expected to remain upward for the next 3-4 days domestically with the onset of Akshaya Tritiya - a day which is considered auspicious for buying gold. Akshaya Tritiya will fall on 14 May 2021.

Gold, Silver Price Movement in April - Over the past one month both Gold and Silver have seen a steady rise. In April Gold prices have appreciated by almost 4 per cent while Silver prices have shot up by over 5.6 per cent.

Still there are ample opportunities for the investors who are willing to invest in Gold and Silver, Gupta said.  

Gold, Silver price in Delhi, Mumbai - The price of physical Gold in Delhi markets is Rs 50,000 per 10 gm while that of Silver was Rs 74,000 per 1 kg.  

As for the international prices, spot gold prices were around USD 1835 while spot Silver prices were around USD 27.73.

The domestic investors will also have to watch out for the movement in INR against the US Dollar, Gupta said. Though the rupee has gained against the USD over the last few days, the outlook remains weak as Coronavirus Cases continue to rise.  

MCX Gold Futures Price

At 3:50 pm on Monday, MCX June Gold Futures were trading at Rs 47,946 per 10 gm, gaining by Rs 195 or almost 0.4 per cent from the last closing price on Friday. Gupta recommeded a Buy at Rs 47,700. He puts the stop loss at Rs 47,500 while the target price at Rs 48,400. 

MCX Silver Futures Price

Meanwhile, MCX July Silver Futures were trading at Rs 72,347 per 1 kg, gaining by Rs 918 or around 1.3 per cent from the last closing price on Friday.