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Business News » Personal Finance News

Gold Price Today 5-4-2021: Take advantage of cheaper Gold, Silver NOW, IIFL analyst recommends; Prices to go up, he says

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Gold Price Today 5-4-2021: Take advantage of cheaper Gold, Silver NOW, IIFL analyst recommends; Prices to go up, he says
The Senior Analyst said that the price of Gold and Silver in international market have made a U-turn. International Gold price was USD 1727 after hitting a low of USD 1676. Source: Reuters
Written By: Shivendra Kumar
Edited By: ZeeBiz WebTeam
Updated: Mon, Apr 05, 2021
09:10 pm
New Delhi, ZeeBiz WebDesk
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Gold Price Today 5-4-2021: Great opportunity to invest in Gold and Silver and earn some handsome returns. Though the prices of Gold have recovered by Rs 1000-Rs 1500, the overall prices are still down from the highs of almost Rs 57,000 per 10 gm in 2020. Silver has also come down significantly from the highs around Rs 75,000 per kg. Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities recommends buying on Gold and Silver.

The Delhi spot price of Gold on Monday was Rs 47,000 per 10 gm while the silver was available at Rs 67,500, Gupta said. He said that the near to medium term outlook of Gold and Silver remains positive. With wedding season and Akshaya Tritiya ahead, the demand for Gold is expected to rise.

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Also, from the investment perspective, it is a safe bet in light of the coronavirus cases see a rampant surge, he said.

Gold, Silver International Price

The Senior Analyst said that the price of Gold and Silver in international market have made a U-turn. International Gold price was USD 1727 after hitting a low of USD 1676. He said that the levels around USD 1750 could be tested soon. Once that happens, there will be an upside for levels between USD 1780 and USD 1800.

Price of Silver in the international market was USD 24.90, he said.

For those, who do not want to invest in physical Gold and Silver, MCX Gold and Silver are also viable options.

MCX Gold Futures

The MCX June Futures were trading at Rs 45,376 per 10 gm at 8:30 pm on Monday, down by almost Rs 42. Meanwhile, the MCX May Futures were trading at Rs 64,935, down by Rs 154 or 0.2 per cent around this time. 

Gupta recommended a Buy on MCX Gold Futures at Rs 45,300. He puts the target price at Rs 45,800 while the stop loss at Rs 45,000.

Meanwhile, Silver futures is recommended for buying at Rs 65,000. He puts the stop loss at Rs 64,300 while the target price at Rs 66,500.

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TAGS:
goldSilverMCX
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