Gold Price Today Delhi, Noida, Dubai: Know 24 Carat gold price, yellow metal gets cheaper by 1.3% in August – See INTRADAY trading strategy

Shivendra Kumar | Aug 31, 2021, 04:52 PM IST

MCX Gold Futures have become cheaper by 1.32 per cent in August, while the price of MCX Silver Futures is down by almost 7 per cent, according to Expert Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities. Source: Reuters

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This is on the back of 1.90 per cent increase in price of yellow metal during the July month. In June, the prices of Gold fell by almost 5.15 per cent.

As per Gupta, Silver futures’ prices fell by 1.78 per in July. The prices fell by 5.51 per cent in June and around 7 per cent in August, he added.

Every correction is a buying opportunity for investors, he said. As for traders, Gupta said that the yellow metal has gained on a back of a weaker US Dollar. He further said that it was time to buy gold and silver as we head to the festive season. Gold is expected to become expensive going forward. Source: Reuters

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24 Carat Gold, Silver Price in Delhi

The price of 24 carat gold in physical markets in Delhi is around Rs 47,600 per 10 gram while that of 1 Kg silver is Rs 64,000. Source: Reuters

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Gold, Silver Price - International Markets

The prices in the international markets were around USD 1817 on Tuesday. Meanwhile, Silver was trading at USD 24.20. Gold has already surpassed the target price of USD 1810 given previously by Gupta on two occasions. Source: Reuters

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Gold Price Strategy – 31 August

The October Gold Futures were trading at Rs 47,135 per 10 gram on Tuesday at around 2 pm. The price were down by Rs 29 almost flat from the last closing price on Monday. His strategy for today is to Buy Gold Futures at Rs 47,200. He puts the stop loss at Rs 47,000. He puts the target price at Rs 47,600. Source: Reuters

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Silver Price Strategy – 31 August

Meanwhile, MCX September Silver Futures were trading at Rs 63,822 per kg on Tuesday, up by Rs 235 or 0.37 per cent from the last closing price on Monday. He recommended buying at Rs 62,600. He puts the stop loss at Rs 63,000 while the target price at Rs 64,500. Source: Reuters

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Gold Price in Dubai

As for prices in Dubai, 24k Gold was trading at AED 219.75 (4,366.81 Indian Rupee) per gram while 22k was trading at AED 206.50 (4,103.51 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). Source: Reuters

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