Gold Price Today – 25-05-2021 – Check expert tips to MAXIMISE yellow metal gains

Planning to buy Gold and silver – digital or physical? Here are some smart tips by Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities to maximise profits. Gupta said that the outlook on bullion is positive on a back of weaker US Dollar (USD) and global inflationary pressure. The yellow metal is also expected to do well because of cryptocurrency ban in China, which has been a major investment alternative, driving significant chunk of people’s investments towards this digital currency. Gold is considered as a haven for investment amid economic uncertainties.   

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.

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MCX Gold Futures were trading at Rs 48,522 per 10 gm around this time, getting cheaper by almost Rs 30 from the last closing price on Monday. Gupta recommended a Buy on Gold Futures at Rs 48,400. He puts the stop loss at Rs 48,200 while the target price at Rs 48,800. 

Meanwhile, MCX July Silver Futures were trading at Rs 71,357 per kg, down by Rs 454 or 0.6 per cent from the last closing price. Hr recommended a Buy in Silver at Rs 71,000. He puts the stop loss at Rs 70,400 while the target price at Rs 72,300.  

In the international markets, Gold steadied near its highest in more than four months on Tuesday aided by weaker USD. The momentum however dipped after US Federal Reserve officials allayed fears about inflation. 

Gupta said that Spot Gold was trading around USD 1883 while Silver spot prices were hovering around USD 27.60. Gupta maintains his target on Gold and Silver in the near term. He expects the yellow metal to reach levels around USD 1920 in the near term.  

As for Silver, it is expected to reach USD 29, this technical analyst said.  

In the physical markets, Gold was trading at Rs 50,500 while Silver was trading around Rs 73,000. The prices of silver have come down by over Rs 1000 in the physical markets.