Gold Price Today 23-02-2021 – Price fluctuations currently in bullion; Expert recommends a Wait and Watch Strategy

Gold Price Today - If you are planning to buy gold and silver then you must know the expert view on this. There is some volatility in bullion and that you impact your investment decision and later the profits, Expert Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking said. His recommendation to investors is to Wait and Watch!

The senior technical analyst said that the domestic prices of Gold and Silver will depend upon how the international prices move. He said that the current near term trend is difficult to assess as the prices are moving both ways. It is best advised to wait and watch for the trends to become clearer, he further said.

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The news around the USD 1.9 trillion coronavirus package is the major trigger now, he added.

Gold Silver Spot Price

The Senior Technical Analyst said that the spot price of Gold in Delhi’s markets are around Rs 47,800 per 10 gm which is the same as on Monday. Meanwhile Silver spot prices have seen gains of Rs 1,500 from the last reported price on Monday. The Silver is available around Rs 71,500.

Since the beginning of 2021, Gold has become cheaper by Rs 3218 or 6.4 per cent, Gupta said. As for silver, the prices have increased by 3.6 per cent or Rs 2461.

MCX Gold, Silver trading strategy

On Tuesday, the MCX April Gold Futures were trading in the green, gaining Rs 30 from the Monday closing price. At 9:45 am, the Gold Futures were trading at Rs 46,930 per 10 gm. His strategy on Gold for today is a Buy at Rs 46,600. He puts the stop loss at Rs 46,400 while the target price at Rs 47,100.

Meanwhile, the MCX March Silver Futures were also by Rs 110 from the previous closing price, trading at Rs 70,542 per kg around this time. He recommended a Buy in Silver Futures at Rs 70,000. He puts the stop loss at Rs 69,500 while the target price at Rs 71,500.

International Spot Gold price

 The international spot price of gold is USD 1812 which is up from the last reporting price of USD 1785.

International Spot price of Silver

The international spot price of Silver is USD 28 which is up from the last reporting price of USD 27.45.