Gold Price Today – 19-05-2021 – Gold Futures gain over 1% or Rs 500 in intraday trade; Know which levels to buy at, to MAXIMISE profits

Gold Futures on MCX were trading with a positive bias on Wednesday gaining by almost 1.1 per cent, hours before the day’s closing. The outlook for bullion remains strong in the near term and one must buy Gold and Silver now to maximise their gains. Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities puts his bet on gold and silver. 

At 7:48 pm, MCX June Gold Futures were trading at Rs 48,774 per 10 gm. It achieved a high of Rs 48,875 gaining by more than Rs 500 on the intraday basis. Gupta recommended a Buy on Gold futures at levels around Rs 48,600. He puts the stop loss at Rs 48,200 while the target price at Rs 49,500.

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Meanwhile, MCX July Silver Futures were trading at Rs 72,851 per 1 kg, going down by almost 0.5 per cent or Rs 345 around this time. He recommended a Buy in Silver futures at levels around Rs 72,500. He puts the stop loss at Rs 71,700 while the target price at Rs 74,500. 

Gupta said that Gold is comfortably achieving its targets and the outlook remains strong. In the international market, Gold was trading at USD 1890. He expects the yellow metal to reach levels around USD 1920 in the near term. 

As for Silver, the price in international market at the time of filing this copy was USD 28. It is expected to reach USD 29, this technical analyst said.  

In the physical markets, Gold was trading at Rs 50,000 while Silver was trading around Rs 74,500. Though, shops are closed in the national capital, one can still buy gold and jewellery online or through one’s trusted jewellers.