Gold, Silver Prices Today July 6: Planning to buy Gold, Silver in physical markets or on exchanges – here is what you must know

Gold and Silver prices in Delhi’s markets may see some rise by evening today as the prices of bullion have seen a rebound over a couple of trading sessions in the international markets, Expert Anuj Gupta says. At 11 am today, the price of Gold in Delhi Markets was around Rs 47,500 per 10 gram while, silver was available at Rs 70,500 per kg, he adds

MCX August Gold Futures were trading at Rs 47,656 per 10 gm on Tuesday around this time, getting expensive by Rs 357 or 0.75 per cent from the last closing price on Monday

Gold and Silver prices in Delhi’s markets may see some rise by evening today as the prices of bullion have seen a rebound over a couple of trading sessions in the international markets, Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities said. At 11 am today, the price of Gold in Delhi Markets was around Rs 47,500 per 10 gram, Gupta said. Meanwhile, silver was available at Rs 70,500 per kg, he added.

The prices of gold and silver in Noida physical markets is more or less same to prices in Delhi.

See Zee Business Live TV Streaming Below:

TRENDING NOW

As for prices in Dubai, 24k Gold was trading at AED 218 (4,414.24 Indian Rupee) per gram while 22k was trading at AED 204.75 (4,144.99 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).

He said that the immediate trends in Gold and Silver have become positive with weakness in US Dollar. Gold was trading at its highest in 3 weeks at USD 1803. Silver Futures were trading around USD 26.50. The immediate to near term outlook remains positive, he said adding that Gold could test levels around USD 1820 while silver could hit USD 27 per ounce.

Taking cues from its global peer, the domestic prices of Gold futures were also trading positively. The MCX August Gold Futures were expensive by Rs 375 per 10 gram around 1:10 pmwhile the MCX September silver futures were dearer by Rs 437 per kg.

MCX Gold Trading Strategy

MCX August Gold Futures were trading at Rs 47,656 per 10 gm on Tuesday around this time, getting expensive by Rs 357 or 0.75 per cent from the last closing price on Monday. His strategy for Tuesday is to Buy at Rs 47,300. He puts the stop loss at Rs 47,100. He puts the target price at Rs 47,600.

MCX Silver Trading Strategy

Meanwhile, MCX September Silver Futures were trading at Rs 70,476 per kg on Tuesday around this time, up by Rs 437 or 0.62 per cent from the last closing price on Monday. He recommended Buying at Rs 70,300. He puts the stop loss at Rs 69,700 while the target price at Rs 71,300.

Gupta said that gold has seen some recovery as Central Banks across many countries have started buying Gold amid fears of inflation shooting up from here.

Gold had been trading with weakness because of an array of factors – including stronger US Dollar, higher bond yields in the US and the commentary around the economic recovery in the US.

TAGS: