Gold Price on MCX : The prices of gold and silver have also fallen in the international spot market. The price of gold on Comax has slipped below $ 1950 per ounce. There is also softening in the prices of silver. The price on Comax is trading at $ 22.65 per ounce.
Gold Price on MCX:
The bullion market continues to decline on strength in the dollar and bond yields. There is a softening in the prices of gold and silver in the futures market. The gold price on MCX is trading at Rs 58900 per 10 grams. Similarly, the price of silver has also fallen by Rs.150. The price on MCX is trading at Rs 69821 per kg.
Gold and silver in international market
Gold and silver prices have also fallen in the international spot market. The price of gold on Comax has slipped below $ 1950 per ounce. There is also softening in the prices of silver. The price on Comax is trading at $ 22.65 per ounce.
The reason for the softening in gold and silver prices is the strength of the dollar and bond yields. The dollar index has reached a five-week high. Investors will be watching the minutes of Fed meeting coming this week.
Expert outlook on gold and silver
Amit Sajeja of Motilal Oswal Commodities said that the weakness in gold and silver will continue. MCX has a sell opinion in gold and silver. He said that the price of gold can slip up to Rs.58,700. For this, keep a stoploss of Rs.59250. Similarly, silver will fall up to Rs.69500 on MCX. Sell for this with a stoploss of Rs 71100.
