Gold Price Today 15-04-2021: Gold and Silver futures traded with a positive bias on Thursday. Gold was expensive by Rs 251 while the Silver Futures prices were up by almost Rs 378. In physical markets in Delhi, gold is available at Rs 49,000 per 10 gram, increasing by almost Rs 1000, expert Anuj Gupta said. Meanwhile, silver prices also went up by Rs 500 and this precious metal was trading at Rs 70,500. 

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Gupta is Vice President (VP), Commodity and Currency Research at IIFL Securities. If you are planning to invest in Gold and Silver, here is the strategy from top expert. 

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Around 4:30 pm on Thursday, MCX June futures were trading at Rs 46,859, up by Rs 251 or almost 0.5 per cent from the previous closing price of Tuesday. Meanwhile May Futures were trading at 68,016 around this time, getting expensive by Rs 378 or almost 0.5 per cent. 

Gold gained on Thursday as a weaker dollar and Treasury yields bolstered bullion`s appeal, ahead of US weekly jobless claims and retail sales data that will shed light on the pace of recovery in the world`s largest economy, Reuters reported. Spot gold rose 0.6 per cent to USD 1747.10 per ounce by 0928 GMT (Around 3 pm IST) US gold futures gained 0.7 per cent to USD 1,748.20 

Though bond yields have increased, the weakness in Dollar Index is keeping the price stable in the international markets. The US Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies. But the USD is still trading strong against the Indian rupee. 

For investors who already hold Gold and Silver futures, this will result in higher margins as the weaker rupee will support the Gold prices averting any correction. 

Rising Coronavirus cases in the country will further lend a momentum to the prices, he said. 

Gold, Silver strategy for Today 

BUY MCX GOLD JUNE Futures at Rs 46, 700, Gupta said. He puts the stop-loss at Rs 46500, while the target price at Rs 47, 500. As for Silver, he recommends a BUY in MCX May SILVER futures at Rs 67,900. He puts the stop loss at Rs 67,200 while the target price at Rs 69,000. 

For domestic consumers, weakening rupee could become a setback as prices may go up also because of higher import cost. That could soon reflect in the prices, Gupta said. He says that it is a good time to buy Gold and Silver as the wedding season and Akshaya Tritiya may push the Gold and Silver prices, further up.