New Delhi: Fluctuations are then stuff seen in the prices of gold and silver. Due to global market signals and domestic trading pressure, both are in upward and downward movements. This is considered to be a time for investors to be a little cautious.
What changes were seen in the prices of gold and silver today?
In today's trading session, both gold and silver were under pressure. Gold fell slightly on MCX, while silver recorded a sharp fall. Due to big fluctuations in the last few days, the market has wilt quite volatile. After the rally some time back, now profit booking is moreover taking place.
What are the latest rates of 24 carat, 22 carat and 18 carat gold?
Currently the price of 24-carat gold in India is virtually Rs 15,093 to Rs 15,094 per gram.
- 22-carat gold is trading at Rs 13,835 to Rs 13,836 per gram.
- 18-carat gold is near Rs 11,320 to Rs 11,321 per gram.
(24-carat gold in 10 grams is reaching virtually Rs 1,50,930-1,50,940.) Prices may vary slightly depending on the cities.
What was the movement of gold and silver on MCX?
Gold futures on MCX were trading virtually Rs 149,000 to Rs 149,650 per 10 grams, with marginal losses seen. The fall in silver was sharper. It fell to Rs 232,600 per kg, which is much lower than the previous session. Overall, pressure is unmistakably visible in the market.
Why are prices moving so much?
According to experts, global factors have a big role. The strength of the dollar, upper transplanted oil prices and the ongoing tension in the Middle East (America-Iran)—all these together are well-expressed the prices. When uncertainty increases, people rush towards gold, but it moreover falls due to profit booking or dollar strengthening. Right now forces from both sides are at play.
Will prices rise or fall in the coming days?
Market experts believe that at present gold and silver may remain in the volatile range. If global tensions persist then support may be available, but if the dollar becomes stronger then pressure may continue. No big one-sided movement is expected right now.
What strategy would be right for investors right now?
Do not be unceremonious at such times. Experts teach to invest in small amounts and alimony an eye on every movement in the market. Only a well-turned tideway is considered unscratched in specimen of sudden fluctuations. If you are thinking for the long term, it may be largest to wait and take entry at a good level.
Overall, today was a day of little pressure for gold and silver. The market is uncertain as always, so take decisions based on your research and needs. If any new update comes, I will let you know immediately.
