Gold Price Today 15-02-2021: Buy for handsome gains, rate down Rs 21, Silver up Rs 660, expert says

The price of gold was higher by 0.3 per last week over the previous week at Rs 47318 while that of silver was 0.55 per cent up at Rs 69,117 levels, Expert Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking said. Since the beginning of 2021, the correction in price of the gold has been over 5.7 per cent.  

The correction has been on the back of import duty cut announced at the time of budget, Gupta said. Meanwhile, the Silver price has been up by almost 2.6 per cent. The Senior Technical Analyst said that the prices of silver have gone up because of the demand for silver for industrial purposes.  

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He said that the outlook of gold is mildly positive, and the up-coming wedding season may prevent a further fall in the precious metal. He recommended buying in silver and gold now for handsome gains.  

Gold, Silver Spot Price today – The spot price of gold is Rs 49,200 per 10 gm while that of silver is Rs 71,000 per kg. He said that he expected the price of Gold to reach Rs 50,000 in near term. As for silver, it is expected to reach 71,500, Gupta said. 

The international spot price of Gold is USD 1825, which is expected to reach USD 1850, Gupta said. Silver is likely to go up to USD 28 from the current levels around USD 27.50.   

MCX Gold, Silver Trading strategy 

At 2:20 pm today, the MCX April Gold Futures were trading lower by Rs 21 from the previous close on Friday, trading at Rs 47,297. He recommended a Buy at levels around 47,300. He puts the stop loss at Rs 47,000 while the target price at Rs 47,900.     

Meanwhile, the MCX March Silver Futures also gained almost Rs 660 around this time, trading at Rs 69,777. He recommended buying at Rs 69,500. He puts the stop loss at Rs 68,700 and target price at Rs 71,500.