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Gold Silver Rate Today 16 June 2020: Gold and silver are expected to fluctuate today on MCX, see best trading calls

Mumbai: Gold Silver Rate Today 16 June 2020: The past Monday was very volatile for global financial markets. On Monday, gold and silver fell in the overseas market in early trade, but the Dollar Index fell as the Federal Reserve signaled the purchase of corporate bonds. Bullion was seen getting support after the afternoon session in the previous session due to the fall in the dollar index.

 

In the previous session, gold and silver closed down on MCX. Today i.e. Tuesday (June 16, 2020) in the business of gold-silver (Today Gold Silver News) to earn profits from trading experts know their best tips.

 

Opinions of experts on trading in gold and silver

According to Manoj Kumar Jain, Director (Commodity and Currency) of Prithvi Finmart Pvt Ltd, Manoj Kumar Jain, gold and silver are also feared due to the huge volatility in the global financial market. Gold and silver may also fluctuate due to the possibility of the Coronavirus spreading again and the upsurge in the global stock markets. They say that the resistance of Rs 47,330-47,500 and Rs 47,800-48,100 remains in gold and silver respectively. Both metals have significant support levels of Rs 46,650 and Rs 46,500 respectively. He says that in today’s session bullion is expected to trade in the realm.

According to Ajay Kedia, managing director of Kedia Advisory, in today’s trading, gold on MCX can be sold in August futures at a price of Rs 47,400 for a target of Rs 47,150-46,900. A stop loss of Rs 47,650 can be levied for this gold deal. On the other hand, silver should be sold in July futures at a price of Rs 47,800 for a target of Rs 47,300-46,800. For this silver contract, you can put a stop loss of Rs 48,100.

According to Angel Broking, deputy vice president (energy and currency) Anuj Gupta, buying gold on intraday MCX in August futures at a price of Rs 46,800 for a target of Rs 47,400 is beneficial. A stop loss of Rs 46,550 should be applied for this gold contract. On the other hand, silver can be purchased at a price of Rs 47,100 for the target of Rs 47,800 in July futures. A stop loss of Rs 46,750 should be applied for this silver contract.

According to Amit Sajeja, Assistant Vice President (Commodity and Currency) of Motilal Oswal, gold on MCX can be achieved by buying at August futures at a price of Rs 46,800 and a target of Rs 47,300. A stop loss of Rs 46,550 should be applied for this gold deal. On the other hand, silver can be purchased at a price of Rs 47,000 for a target of Rs 47,800 in July futures. In today’s trade, silver can put a stop loss of Rs 46,600 in July futures.

 

According to Veeresh Hiremath, head research, Karvy Comtrade, in today’s trading, buying gold on MCX in August futures at a price of Rs 46,900 for a target of Rs 47,200 is beneficial. A stop loss of Rs 46,800 can be levied for this deal. At the same time, by buying silver in July futures at a price of Rs 47,300, you can achieve the target of Rs 47,800. A stop loss of Rs 47,100 should be applied for this silver contract.

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