Gold Price Today 13-04-2021: Bullion trades positive on Tuesday; Motilal Oswal, IIFL give trends for investors
Gold Price Today 13-04-2021: Gold and Silver futures were trading with a positive bias on Tuesday. In physical markets in Delhi, gold was available at Rs 48,000 per 10 gram while Silver was available at Rs 68,500. priced was quoted at 48400 levels and Silver price is quoted at 69000 levels. If you are planning to invest in Gold and Silver, here is the strategy from top experts
Gold Price Today 13-04-2021: Gold and Silver futures were trading with a positive bias on Tuesday. In physical markets in Delhi, gold was available at Rs 48,000 per 10 gram while Silver was available at Rs 68,500. priced was quoted at 48400 levels and Silver price is quoted at 69000 levels. If you are planning to invest in Gold and Silver, here is the strategy from top experts.
The MCX June futures were trading at Rs 46,541 at 1:30 pm, up by Rs 122 or almost 0.3 per cent from the previous closing price of Monday. Meanwhile May Futures were trading at 66,665 around this time, getting expensive by Rs 537 or almost 0.8 per cent.
See Zee Business Live TV Streaming Below:
MCX Gold price is expected to trade with a bullish trend with strong support at Rs 46,000 and intermediate support at Rs 46,350, Amit Sajeja, Vice President -Research, Commodity and Currency at Motilal Oswal said. The resistance zone is Rs 46,650 – Rs 46,800. Buy on dips is advised.
Meanwhile, the trend in MCX silver remains sideways, he said. There is a strong resistance at 66,700 while the support is at Rs 65,900.
Another Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities sees a sideways trend in both Gold and Silver. Though higher Treasury Yields took some sheen of the yellow metal, the firmness in US Dollar against the slipping rupee could be a problem for domestic customers planning to buy the yellow metal, he said.
For investors who already hold Gold and Silver futures, this will result in higher margins as the weaker rupee will support the Gold prices averting any correction.
Rising Coronavirus cases in the country will further lend a momentum to the prices, he said.
He recommends a Buy on Gold Futures at 46, 200. He puts stop-loss at Rs 45,900 while the target price at Rs 46,800. As for Silver, his recommendation is Buy at Rs 65, 800. He puts the stop-loss at Rs 65,000 while the target price at Rs 67,500
The international prices of Gold and Silver saw more correction on Tuesday from the levels of Monday. The VP said Gold has come down to USD 1734 on Tuesday from USD 1750 on Monday. Meanwhile Silver was trading at USD 24.90 down from USD 25.30.
For domestic consumers, weakening rupee could become a setback as prices may go up also because of higher import cost. That could soon reflect in the prices, Gupta said. He says that it is a good time to buy Gold and Silver as the wedding season and Akshaya Tritiya may push the Gold and Silver prices, further up.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.