Gold Price Today 24-03-2021: Gold is now expensive by Rs 82, Silver by Rs 335; this expert gives TOP MONEY MAKING TIPS
Gold Price Today 24-03-2021: Gold and Silver futures gained and were trading in the positive zone around 6 pm on Wednesday. While April Gold Futures were up by Rs 82 or almost 0.2 percent from the previous closing price of Tuesday, May Silver Futures were up by Rs 335. The outlook for Gold and Silver remains positive, says Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities. His recommendation is to buy bullion as they have come down appreciably from the highs of 2020.
Gold prices have fallen by almost Rs 12,000 from the lifetime highs of over Rs 56,000 per 10 gm which the yellow metal achieved in 2020. Meanwhile, Silver Futures too have fallen by as much after achieving life highs around Rs 78,000 per kg. This is the right time to buy Gold and Silver as they are likely to go up as we step into the wedding season ahead of us along with Akshaya Tritiya in May, Gupta said.
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MCX Gold, Silver trading strategy
April Gold Futures were trading at Rs 44,728 per 10 gm. His strategy is to Buy Gold Futures. He recommended Buying around Rs 44,700. He puts the stop loss at Rs 44,400 while the target price at Rs 45,100.
Meanwhile, MCX May Silver futures were trading at Rs 65,307 per kg around this time. He recommended Buying in Silver Futures at Rs 65,000. He puts the stop loss at Rs 64,200 while the target price at Rs 66,500.
Gold, Silver Spot price in Delhi
The spot price of Gold in Delhi is around 47,000 which has remained unchanged from the last reporting price of Monday. The spot price of silver is Rs 68,000. He said that the physical market prices take some time to reflect the changes.
His advice to the investors in Gold and Silver is to buy.
Gold, Silver Price Outlook
Gupta said that international spot price of Gold was USD 1730 while those of silver is USD 25.25, he said.
He said that the outlook is positive for Gold and Silver.
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