Stock Market : The stock market has been on the rise for 7 consecutive days. The market had closed with gains on Tuesday. The Sensex closed at 60,157 with a gain of 311 points.
Gold Rate Today: Strong action is being seen in the prices of bullion due to the commotion in the markets around the world. Be it gold or silver, the prices of both are increasing rapidly.
Due to the sharp jump in prices, the price of gold has reached a new peak. In the Indian markets, the rate of 10 grams of gold crossed Rs 61,000. At present, there are signs of further growth in this, because both gold and silver are strong on Comax in the international market. On Comax, gold is trading at $2025 and silver at $25.40 per ounce.
Gold price rose in the futures market
The price of June futures on MCX has gone up by Rs 465 to Rs 60500 per 10 grams. Similarly, silver has also become costlier by Rs 630 to reach Rs 75677 per kg. The reason for the strong rise in the prices of gold and silver is the volatility in the weakening dollar index. Apart from this, action is visible in the commodity market before the release of inflation data and FED minutes.
How will be the movement of gold and silver in future
According to Anuj Gupta of IIFL Securities, the prices of gold and silver on MCX will see further rise. The price of MCX gold can go up to Rs 60350 per 10 grams and silver up to Rs 74900 per kg. If a trader wants to make profit, then buy in June contract in the futures market.
Gold rates in bullion market
On Tuesday, the price of gold rose by Rs 280 to Rs 60,680 per 10 grams in the country’s capital Delhi’s bullion market. HDFC Securities gave this information. The price of silver also increased by Rs 470 to Rs 74,950 per kg.
