Gold Price Today Delhi, Noida, Dubai: Get latest price details; as MCX opens in 2nd session, expert suggests money making strategy

Expert Anuj Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities recommends a Buy on Gold and Silver futures. Every correction is a buying opportunity for investors, he said

Gold Futures were trading at Rs 47,320 on Thursday around 5:45 pm, up 0.4 per cent from the Wednesday closing price. Source: Reuters

Equity and currency markets were closed today on account of Muharram. The MCX Gold futures were trading on a poistive note on Thursday when the markets reopened at 5 pm while Silver Futures were trading with a negative bias. Gold Futures ended in the red on Wednesday with MCX October Gold Futures cheaper by Rs 139 at the closing time on Wednesday. Meanwhile, the September Silver Futures were cheaper by Rs 749 from the closing price of Tuesday.

Expert Anuj Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities recommends a Buy on Gold and Silver futures. Every correction is a buying opportunity for investors, he said.

As for traders, this is what he suggests.

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Gold Price Strategy – 19 August

The October Gold Futures ended at Rs 47,141 per 10 gram on Wednesday. The price were down by Rs 139 or 0.3 per cent. His strategy for today is to Buy Gold Futures at Rs 47,000. He puts the stop loss at Rs 46,700. He puts the target price at Rs 47,500. Gold Futures were trading at Rs 47,320 on Thursday around 5:45 pm, up 0.4 per cent from the Wednesday closing price.

Silver Price Strategy – 19 August

Meanwhile, MCX September Silver Futures ended at Rs 62,432 per kg on Wednesday, down by Rs 794 or 1.26 per cent from the last closing price on Tuesday. He recommended buying at Rs 62,800. He puts the stop loss at Rs 62,500 while the target price at Rs 63,800. Silver Futures were trading down by almost RS 100 or 0.16 per cent around this time at Rs 62,385 per kg.

Gold Price Movement – June, July, August

Gold prices have taken some beating over in August seeing a correction of almost 4 per cent, Gupta said. This was on the back of 1.90 per cent increase during the July month. In June the prices of Gold fell by almost 5.15 per cent. The information was shared by said.

Silver Price Movement - June, July, August

Meanwhile, Silver futures moved just one-way over the last two months in August and that is downwards. As per Gupta, Silver futures’ prices fell by 1.78 per in July. The prices fell by 5.51 per cent in June and around 7 per cent in August, he added.

Gold, Silver Price - International Markets - The prices in the international markets were around USD 1780 on Thursday. It is expected to test 1810 in the near term, he added. Silver is expected to test USD 25 in the near term. It is currently trading around 23.50.

24 Carat Gold Price in Delhi Today - The price of 24 carat Gold in Delhi’s physical markets is around Rs 47,5000 per 10 gram while that of Silver is around Rs 64,500 per kg, Gupta said. Gold prices in Noida are similar to those in Delhi, Gupta said.

Gold Price in Dubai - As for prices in Dubai, 24k Gold was trading at AED 216.75 (4,390.03 Indian Rupee) per gram while 22k was trading at AED 203.50 (4,121.35 Indian Rupee). This information has been sourced from Dubai Gold & Jewellery Group (DGJG) website. The website claims DGJG to be the largest trade body for Dubai’s jewellery industry (DGJG).

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