Gold Price Today: Gold prices slide Rs 2,800/10 g in a week. How to trade?

Gold prices person slipped from higher levels, falling by Rs 2,754/10 grams connected MCX implicit the past 1 week. The prices for gold, arsenic good arsenic silver, plunged amid US-China commercialized dialog hopes and a rebound successful the dollar index.

Gold June futures contracts astatine MCX opened astatine Rs 93,271/10 grams. This was higher by 0.68% oregon Rs 634. Further, metallic July futures contracts opened level astatine Rs 94,145/kg, up by Rs 81 oregon 0.09%

On Friday, golden and metallic settled connected a mixed enactment successful the home and planetary markets. Gold June futures declaration settled astatine Rs 92,637 per 10 grams with a summation of 0.32% portion metallic July futures declaration settled astatine Rs 94,064 per kilogram with a nonaccomplishment of 0.70%.

Gold and metallic showed precise precocious terms volatility past week and showed nett taking amid rebound successful the dollar scale and US-China commercialized dialog hopes. Gold and silver prices slipped to 3-week lows aft the U.S. President said for commercialized negotiations with India, Japan, South Korea and China.

The dollar scale recovered from multi-month lows and tested 100 marks erstwhile again aft Trump’s connection and pushed precious metals lower. Today, the US Dollar Index, DXY, was hovering adjacent the 99.73 mark, falling 0.30 oregon 0.30%.

“The U.S. economical information released past week were mixed arsenic non-farm employment surged higher and besides triggered nett taking successful some precious metals. However, contraction successful the archetypal 4th U.S. GDP and higher jobless claims supported golden prices astatine little levels,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.

“We expect golden and metallic prices to stay volatile this week amid volatility successful the dollar scale and up of the U.S. Fed monetary argumentation meetings; golden prices could trial their enactment level of $3,180 per troy ounce and metallic prices could besides trial $31.40 per troy ounce levels,” helium added.

Ranges for golden and metallic connected MCX by Manoj Kumar Jain:

• At MCX, golden has enactment astatine Rs 92,150-91,600 and absorption astatine Rs 93,040-93,550
• Silver has enactment astatine Rs 93,350-92,500 and absorption astatine Rs 94,800-95,500.

Jain suggests selling golden connected emergence astir Rs 93,000-93,300 with a halt nonaccomplishment of Rs 93,720 for a people of Rs 92,200-91,850.

Gold rates successful carnal markets

Gold Price contiguous successful Delhi

Standard golden (22 carat) prices successful Delhi basal astatine Rs 56,648/8 grams portion axenic golden (24 carat) prices basal astatine Rs 61,456/8 grams.

Gold Price contiguous successful Mumbai

Standard golden (22 carat) prices successful Mumbai basal astatine Rs 56,648/8 grams portion axenic golden (24 carat) prices basal astatine Rs 60,432/8 grams.

Gold Price contiguous successful Chennai

Standard golden (22 carat) prices successful Chennai basal astatine Rs 56,904/8 grams portion axenic golden (24 carat) prices basal astatine Rs 60,624/8 grams.

Gold Price contiguous successful Hyderabad

Standard golden (22 carat) prices successful Hyderabad basal astatine Rs 57,016/8 grams portion axenic golden (24 carat) prices basal astatine Rs 60,792/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions fixed by the experts are their own. These bash not correspond the views of The Economic Times)