After strong sales during the festive season, now the bullion market is trading with a little softness. There is a slight rise in the price of gold today, while a fall in the price of silver is being seen. Gold and silver are trading with mixed rates in the futures market.
Gold rose today on MCX
If you look at the price of gold on the Multi Commodity Exchange, it is trading at a rate of Rs 50251 per 10 grams with a slight increase of 0.04 percent. These are the prices of its December futures and some pressure is being seen on its price today as global gold prices are also showing similar trade.
silver price in the futures market
Silver prices are falling in the futures market today and it is trading at Rs 57363 per kg with a fall of 0.20 percent. This price of silver is for its December futures.
how will the business be for gold today?
Ravi Singh, VP, Head of Research, ShareIndia, says that today gold is expected to open in the range of 50200-50300 for trading. On the other hand, gold can remain in the range of 50100-50600 for the whole day. Today there is only a slight decline in the business of gold.
Trading Strategy for Gold Today
To buy: Buy if it goes above Rs 50300, target 50500 stop loss 50200
To sell: Sell if it goes below Rs 50100, target 49900 stop loss 50200
Support 1- 50000
Support 2- 49760
Resistance 1- 50630
Resistance 2- 51020
Know what is the price of gold in your city today
In the capital Delhi today, the price of 24-carat gold fell by Rs 170 to Rs 50,990 per 10 grams.
In Kolkata, the price of 24-carat gold declined by Rs 160 to Rs 50,840 per 10 grams.
In Mumbai, the price of 24-carat gold declined by Rs 160 to Rs 50,840 per 10 grams.
In Chennai, the price of 24-carat gold rose by Rs 110 to Rs 51,440.