Gold price Today – Gold price Today – 1-06-2021 – Gold VERSUS Silver – Who is SHINING BRIGHTLY of the two in terms of higher returns for investors? Expert Gives FULL Detail
Gold and Silver were trading with high momentum on Tuesday and it was silver which was shining brightly in the intraday trading. MCX Silver Futures were expensive by almost Rs 1060 per cent from the previous trading price on Monday at around 12 pm. Meanwhile MCX Gold futures were also trading higher by Rs 366 around this time.
Gold Vs Silver – Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities is bullish on both Gold and Silver in the near to medium term. He said that the bullion is set for big gains going down the line. But the real winner for investors has been Silver which has risen by almost 6 per cent since the beginning of January 2021 while the yellow metal is still in the negative from the highs of August 2020, when it hit its peak.
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But over April and May months, Gold has shone brightly gaining by almost 9 per cent while the average increase has been just over 6 per cent for silver during this period. Gupta said that Silver has shown higher volatility, though.
The overall increase for Gold during the last 2 months has been over Rs 4500, he further said.
However, better days are ahead for Gold and Silver, he reiterated.
Fragile US economy, geo-political tension, growing coronavirus cases and crypto currency ban in China have all helped to the cause of the bullion over the months of April and May, he further said.
As for domestic indicators, there was no major action on Tuesday. The equity markets also ended flat while Gold did not move much from Monday levels on MCX, though it traded with a negative bias at around 5 pm. However, Silver futures dipped by Rs 454 around this time.
MCX Gold, Silver Trading strategy
MCX August Gold Futures were trading at Rs 49,675 per 10 gm around this time, getting expensive by almost Rs 326 from the last closing price on Monday. Gupta recommended a Buy on Gold Futures at Rs 49,400. He puts the stop loss at Rs 49,100 while the target price at Rs 50,000.
Meanwhile, MCX July Silver Futures were trading at Rs 72,958 per kg, up by Rs 1060 from the last closing price. He recommended a Buy in Silver at Rs 72,500. He puts the stop loss at Rs 72,000 while the target price at Rs 74,500.
In the international markets, Gold was trading around USD 1910. He expects it to test levels around USD 1940 over the next 10-day period. Meanwhile, Silver was trading at USD 28.40 and was expected to reach levels around USD 30 withing the same time.
In the physical markets in Delhi, Gold was trading at Rs 51,000 while Silver was trading around Rs 73,500.
Gold price Today - Gold price Today – 1-06-2021 – Gold VERSUS Silver – Who is SHINING BRIGHTLY of the two in terms of higher returns for investors? Expert Gives FULL Detail
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