Gold Price Today: Wedding season is going on across the country. But the rising gold prices have given a big blow. Due to global banking concerns, gold prices are trading at record levels in both domestic and overseas markets.
Gold Price Today:
The season of weddings is going on all over the country. But the rising gold prices have given a big blow. Due to global banking concerns, gold prices are trading at record levels in both domestic and overseas markets. The price of gold on MCX has strengthened by about 100 rupees. Due to this, the price of 10 grams of gold has crossed 61550 rupees. Similarly, silver prices have also gained Rs 160 to cross Rs 78,200.
Gold shines in foreign markets too
Both gold and silver have become costlier in the international market. On Comax, the gold price is trading at $2058 per ounce and silver at $26.31 per ounce. Let us tell you that due to the concerns of the banking system all over the world, gold prices are getting support. On the other hand, after FED, ECB has also announced an increase of 25 basis points in interest rates. This has also affected the demand for gold.
Outlook on Gold and Silver
According to Anuj Gupta, an expert in the commodity market and Vice President of IIFL Securities, there will be a rise in the prices of gold and silver on MCX. The June contract of gold on MCX can go up to Rs 61700. There is a stop loss of Rs 60850 for this. Also, the July contract of silver can go up to Rs 79000. For this, it is advised to put a stop loss of Rs.76750.
