Gold Price Today Delhi: Know latest 24 carat price – June Vs July vs August – Report card for yellow metal futures; SEE trading strategy here

MCX Gold and Silver futures have taken some beating over the 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. The information was shared by Expert Anuj Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities said.

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.

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His advice to existing traders is to sell Gold and Silver futures on rise. For fresh long term investors, it is a good buying opportunity.     

On Wednesday at 1 pm, the October Gold Futures were trading positively on the MCX. The prices were up by Rs 18 or 0.04 per cent from the Tuesday closing price. The Gold Futures were trading at Rs 45,980 per 10 gram. He recommended a Sell at Rs 46,300. The stop loss is at Rs 46,550 while the target price is at Rs 45,900. 

Meanwhile, MCX September Silver Futures were trading at Rs 62,477 per kg on Wednesday around this time, down by Rs 159 or 0.25 per cent from the last closing price on Tuesday. He recommended Selling at Rs 62,800. He puts the stop loss at Rs 63,300 while the target price at Rs 62,000.    

Amid a stronger US Dollar and robust US Economic data, Gold has seen sharp correction as the yellow metal was hovering around its 4-month low levels. On the contrary USD was hovering at a 4-month high levels, Expert Anuj Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities has said. He expects weakness to continue in the near term, though the medium to long term trend to remain positive. His strategy is of ‘Sell’ in Gold and Silver futures on the MCX. This is what he recommended. 

 In the international market Gold may test levels between USD 1680 and USD 1700 in a short term, Gupta said. The prices in the international markets were around USD 1732. Silver is expected to test US 22-22.50 in the near term. It is currently trading around 23.40.

 The price of 24 carat Gold in Delhi’s physical markets is around Rs 47,000 per 10 gram while that of Silver is around Rs 66,000 per kg, Gupta said. Gold prices in Noida are similar to those in Delhi, Gupta said.    

As for prices in Dubai, 24k Gold was trading at AED 210 (4,257.12 Indian Rupee) per gram while 22k was trading at AED 197.25 (3,998.65 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).