Gold rate today: Gold prices surged in today’s trading session, surpassing the Rs 72,000 per 10 grams mark, while silver reached Rs 84,000 per kilogram for the first time ever. These milestones were achieved despite a stronger dollar index, which rose above 105, marking a 1% increase over the past five trading days.
According to ET, the rise in gold prices was fueled by softer US PPI inflation data, boosting investor confidence in bullion.Gold prices in India followed the trends set by international markets. The MCX June gold futures reached a new peak of Rs 72,678 per 10 grams.
By around 9:45 AM today, these futures were trading at Rs 72,448, marking a rise of Rs 804 or 1.12%. Similarly, May silver contracts reached Rs 84,102 for the first time and were trading at Rs 83,925, showing a gain of Rs 1,078 or 1.30% from the previous close.
The dollar index, which measures the value of the US dollar against a basket of major currencies, remained near the 105.35 mark today, with a marginal increase of 0.07%.
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The June Gold futures on MCX closed at Rs 71,650 on Thursday, showing a small increase of Rs 6 or 0.01%. In the same session, May silver futures ended at Rs 82,880, rising by Rs 33 or 0.04%.
Anuj Gupta, Head of Commodity & Currency at HDFC Securities, said that prices on MCX have increased by 5.86% or Rs 3,967 in April. On a year-to-date basis, the rise is Rs 8,442 or 13.36%. Regarding the Silver contract, Gupta mentioned that this month’s gains are at 9.86% or Rs 7,799, with year-to-date gains standing at 11.31% or Rs 84,000.
Gupta further stated that the price of gold in major physical bullion markets such as Delhi, Ahmedabad, and other cities is Rs 72,500 per 10 grams, while the price of 1 kilogram of silver is Rs 83,500.
Anuj Gupta’s intraday trading strategy is as follows:
1. Buy April gold futures at Rs 72,125 with a target price of Rs 72,700 and a stop loss at Rs 72,950.
2. Buy May silver contracts at Rs 83,600 with a target price of Rs 84,060 and a stop loss at Rs 83,200.
According to ET, the rise in gold prices was fueled by softer US PPI inflation data, boosting investor confidence in bullion.Gold prices in India followed the trends set by international markets. The MCX June gold futures reached a new peak of Rs 72,678 per 10 grams.
By around 9:45 AM today, these futures were trading at Rs 72,448, marking a rise of Rs 804 or 1.12%. Similarly, May silver contracts reached Rs 84,102 for the first time and were trading at Rs 83,925, showing a gain of Rs 1,078 or 1.30% from the previous close.
The dollar index, which measures the value of the US dollar against a basket of major currencies, remained near the 105.35 mark today, with a marginal increase of 0.07%.
ALSO READ | Why it may be the right time to invest in gilt funds; check top performers
The June Gold futures on MCX closed at Rs 71,650 on Thursday, showing a small increase of Rs 6 or 0.01%. In the same session, May silver futures ended at Rs 82,880, rising by Rs 33 or 0.04%.
Anuj Gupta, Head of Commodity & Currency at HDFC Securities, said that prices on MCX have increased by 5.86% or Rs 3,967 in April. On a year-to-date basis, the rise is Rs 8,442 or 13.36%. Regarding the Silver contract, Gupta mentioned that this month’s gains are at 9.86% or Rs 7,799, with year-to-date gains standing at 11.31% or Rs 84,000.
Gupta further stated that the price of gold in major physical bullion markets such as Delhi, Ahmedabad, and other cities is Rs 72,500 per 10 grams, while the price of 1 kilogram of silver is Rs 83,500.
Anuj Gupta’s intraday trading strategy is as follows:
1. Buy April gold futures at Rs 72,125 with a target price of Rs 72,700 and a stop loss at Rs 72,950.
2. Buy May silver contracts at Rs 83,600 with a target price of Rs 84,060 and a stop loss at Rs 83,200.