Gold Price Today 06-05-2021: At fag end of Thursday trading, EXPERT gives CRUCIAL strategy to make money in Gold, Silver

Gold Price Today 06-05-2021: At the fag end of Thursday’s trading session, Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities gives crucial strategy to make some handsome profits by trading in Gold and Silver. If you are still looking to earn some money today, here is your opportunity to make some or at least get a great deal.

MCX Gold Futures – Trading Strategy - At 7:30 pm on Thursday, MCX June Futures were trading at Rs 47,522 per 10 gm, going up by Rs 522 or over 1 per cent. Gupta said that the Gold Futures should be bought at levels around Rs 47,000 to optimise the profits. He puts the stop loss at Rs 46,800 while the target price at Rs 47,800.

MCX Silver Futures – Trading Strategy - MCX July Silver Futures were trading at Rs 71,508 per 1 kg, going up by Rs 1889 or over 2.7 per cent. Gupta said that the Silver Futures should be bought at levels around Rs 70,200 to optimise the profits. He puts the stop loss at Rs 69,500 while the target price at Rs 72,500.

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Gold, Silver price in Delhi - The price of physical Gold in Delhi markets is Rs 49,000 per 10 gm while the Silver prices have been Rs 71,500 per 1 kg. The price of Silver in physical markets have gone up by almost Rs 500 today, Gupta said.

As for the international prices, spot gold prices were around USD 1792 while spot Silver prices were around USD 26.70 at the time of the filing of the story. He said that there is a major resistance at USD 1805 for gold and if this barrier breaks over the next trading session, an upside between USD 1820 and USD 1840 will open.

He said that investors should watch out for the weakness in USD. That could bring the import prices down for domestic users.