Gold Price Today: Gold down 1.7% in April, silver declines 5%; take advantage of lower rates ahead of Akshaya Tritiya, says expert

Gold Price Today: Gold rate has come down in April by almost 2 per cent or over Rs 904 in Delhi-NCR while silver price has declined by over 5 per cent or Rs 5000 per kg, according to commodity expert Anuj Gupta. The price of 24 Carat gold in Delhi is Rs 51262 per 10 gram while price of 22 Carat Gold in Delhi is around Rs 50000 per 10 gram, Gupta said.

The price of silver in Delhi is around Rs 64500, he said.

Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities said that despite current uncertainties, Gold and silver prices are expected to go up, going forward because of high inflation situation, marriage season and Akshaya Tritiya 2022.

He said that the prices have come down because of stronger Dollar strength but the trends are still positive. The VP recommends buying in physical gold, saying that bullion prices have moved down considerably despite positive trends. He said that, there could be a rebound, soon.

Akshaya Tritiya, which is considered as an auspicious occasion to buy gold and silver, will fall on 3 May.  

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He had previously said that Gold rates are expected to touch Rs 56000 per 10 gram by Diwali while Silver could test levels of Rs 75000 by this time.

Also Read: Gold Price Today: Yellow metal likely to go up in near term as demand picks up ahead of Akshaya Tritiya, marriage season; know latest bullion rates

As for traders willing to make moves in MCX Gold futures and MCX Silver futures, he recommends a buy in June Gold futures and May Silver futures.

On Thursday, June MCX Gold Futures ended at Rs 51254 per 10 gram, up by Rs 55 or 0.11 per cent from the Wednesday closing price. Meanwhile, May MCX Silver futures ended at Rs 64530, gaining almost Rs 760 per kg or almost 1.2 per cent from the previous closing price.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)