New Delhi: Gold Silver Rate Today 1 June 2020: On Friday, the strengthof gold and silver was seen in the international market. In the last session, Gold Rate on COMEX (COMEX)was closed after 8 years at $ 1,700 per ounce. On the other hand, silver also closed at 18.40 an ounceonComax. According to the data, in the foreign market during May, silver was up by about 20 percent and gold by 3 percent.
Tensions in the US-China, concern by the Federal Reserve chairman about the rapid recovery in the US economy and reduced personal spending of people have increased the demand for safe investment in gold and silver (Bullion Price Today) . Today i.e. Monday (June 1, 2020) in the business of gold-silver (Today Gold Silver News) strategy to know the opinions of veteran experts.
Experts opinion on trading in gold and silver
According to Manoj Kumar Jain, Director (Commodity & Currency) of Prithvi Finmart Pvt Ltd, Manoj Kumar Jain , there are signs of a rise in gold and silver this week. He says that a buying strategy should be made on the decline in gold and silver. Manoj Jain says that the gold futures on the Multi Commodity Exchange i.e. MCX, can go up to the upper level of Rs 47,330-47,500 if the price of August futures stays above Rs 47,100. Gold is expected to support Rs 46,850 at present. On the other hand, the silver July futures can go up to the upper level of Rs 50,700-51,000 if it stays above Rs 50,220. Silver currently has significant support of Rs 49,500.
According to Ajay Kedia, managing director of Kedia Advisory , gold on intraday MCX can be purchased in August futures at a price of Rs 47,000 for a target of Rs 47,240-47,550. A stoploss of Rs 46,850 can be levied for this gold deal. On the other hand, by buying silver in July futures at a price of Rs 49,850, you can achieve the target of Rs 50,350-50,750. For this silver contract, a stoploss of Rs 49,500 should be applied.
According to Angel Broking Deputy Vice President (Energy and Currency) Anuj Gupta, in today’s trading, gold on MCX can be achieved by buying at August 46 futures at a price of Rs 46,900 and a target of Rs 47,600. For this gold deal, you can put a stoploss of Rs 46,550. Silver, on the other hand, has gained from buying at a price of Rs 49,900 for a target of Rs 51,000 in July futures. For this silver contract, a stoploss of Rs 49,450 can be applied.
According to Amit Sajeja, Assistant Vice President (Commodity and Currency) of Motilal Oswal , gold in intraday can be profited by buying in August futures. Amit says that by buying gold futures at a price of Rs 46,600, you can achieve the target of Rs 47,100. A stoploss of Rs 46,300 can be levied for this gold deal. At the same time, silver can be purchased at a price of Rs 49,800 for the target of Rs 50,600 in July futures. Traders should put a stoploss of Rs 49,300 in silver.
According to Veeresh Hiremath, head research, Karvy Comtrade, in today’s trading, buying gold on MCX in August futures at a price of Rs 47,000 for a target of Rs 47,500 is beneficial. For this gold contract, you can put a stoploss of Rs 46,800. On the other hand, by buying silver at the price of Rs 50,000 in July futures, you can achieve the target of Rs 50,700. A stoploss of Rs 49,700 can be levied for this silver deal.