Gold and Silver rate today (July 4, 2024): Yellow metal near Rs 72,500, white metal above Rs 91,850
Gold and Silver rate today (July 4, 2024): MCX gold futures (Aug 5) were flat with a positive bias at Rs 72,449 per 10 gm. Here is what analysts suggest.
![Gold and Silver rate today (July 4, 2024): Yellow metal near Rs 72,500, white metal above Rs 91,850](https://cdn.zeebiz.com/sites/default/files/2024/07/04/303094-gold-00.jpg?im=FitAndFill=(1200,900))
Gold and Silver rate today (July 4, 2024): Domestic yellow metal futures on Thursday were subdued, while white metal futures traded lower after the softer US dollar.
At the last count, MCX gold futures (Aug 5) were flat with a positive bias at Rs 72,449 per 10 gm. Meanwhile, MCX Silver futures (Sept 5) were down Rs 151 or 0.16 per cent at Rs 91,870 per kg.
Anuj Gupta of HDFC Securities recommended buying gold August futures at Rs 72,300, with a stop loss of Rs 72,080 and a target of Rs 72,780. As per Gupta, since US markets are closed their won't be much movement in gold.
Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended buying gold August futures on dips at Rs 72,400, keeping the stop loss at Rs 71,900 and target of Rs 72,900. For silver September futures she recommended buying on dips at Rs 92,000, with a stop loss of Rs 91,000 and a target of Rs 94,000.
Meanwhile, COMEX gold in the international market was flat with negative bias at $2,367.9 per ounce.
"The prospect of easing monetary policy a scenario generally supportive for non-interest bearing bullion has helped support gold prices this year, along with purchases from central banks and haven buying amid geopolitical tensions in Ukraine and Middle East. Therefore, Bulls are trying to get ahead of what many believe will finally be a weak payrolls report on Friday," said Anand Rathi Commodities & Currencies' Neha Qureshi.
Trigger that can affect yellow metal movements:
>> FOMC minutes of June 12.
>> NFP data to be released on July 5.
>> Geopolitical tensions in Ukraine and Middle East.
>> Payrolls report due July 5.
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