Gold Price Today: Afghanistan fallout! will geopolitics impact bullion prices in near term? Check expert's take; MCX Gold, Silver intraday trading strategy explained too

The demand for Gold and Silver has been on the rise and that is helping the cause of bullion. "Demand situation along with the recent geo-political situation developing, especially after the developments in Afghanistan, may have an impact on the price of Gold and Silver in the near term," said expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities. The role of the US and China will be watched to see how things unfold, going forward, he further said.  

The gems and jewellery exports grew by 6.04 per cent to USD 12.55 billion during April-July this fiscal as against USD 11.8 billion in the same period of 2019-20, on the back of the continued recovery in key export markets like the US, China and Hong Kong, according to Gem & Jewellery Export Promotion Council (GJEPC), PTI has reported. During July, the exports rose by 18 per cent to USD 3.36 billion. The gems and jewellery exports stood at USD 3.87 billion in April-July 2020-21. The GJEPC is the apex body of exporters in the gem and jewellery sector. 

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Gold Price Strategy – 17 August   

On Tuesday at 1:20 am, the October Gold Futures were trading positively on the MCX. The prices were up by Rs 218 or almost 0.46 from the Monday closing price. The Gold Futures were trading at Rs 47,443 per 10 gram. He recommended a 'Buy' at Rs 47,100. The stop loss is at Rs 46,900, while the target price is at Rs 47,600.    

Silver Price Strategy – 17 August   

Meanwhile, MCX September Silver Futures were trading at Rs 63,720 per kg on Tuesday around this time, up by Rs 263 or 0.41 per cent from the last closing price on Monday. He recommended Buying at Rs 63,300. He puts the stop loss at Rs 62,800, while the target price at Rs 64,200.  

Gold, Silver Price - International Markets - In the international market, gold may test levels of USD 1810 in a short term, Gupta said. The prices in the international markets were around USD 1785 on Tuesday. Silver is expected to test US 25 in the near term. It is currently trading around 23.50.   

24 Carat Gold Price in Delhi Today - The price of 24 carat Gold in Delhi’s physical markets is around Rs 47,500 per 10 gram while that of Silver is around Rs 64,000 per kg, Gupta said. Gold prices in Noida are similar to those in Delhi, Gupta said.       

Gold Price in Dubai - As for prices in Dubai, 24k Gold was trading at AED 215.25 (4,348.11 Indian Rupee) per gram while 22k was trading at AED 202.25 (4,085.51 Indian Rupee). This information has been sourced from Dubai Gold & Jewellery Group (DGJG) website. The website claims DGJG to be the largest trade body for Dubai’s jewellery industry (DGJG).   

Gold Price Movement – June, July, August   

Have taken some beating over the first 11-days in August seeing a correction of 4.18 per cent. This was in the back of 1.90 per cent increase during the July month. In June the prices of Gold fell by almost 5.15 per cent. 

Silver Price Movement - June, July, August   

Meanwhile, Silver futures moved just one-way over the last two months and in the first 11 days of August and that is downwards. As per Gupta, Silver futures’ prices fell by 1.78 per in July. The prices fell by 5.51 per cent in June and 7.81 per cent in August, he added.