Mumbai: Gold Silver Rate Today 18 June 2020: A mixed trend was seen in Gold-Silver (Gold Silver Price Today) on Wednesday. In the previous session, gold on MCXclosed down around Rs 47,300 with a slight softening. At the same time, silver also closed at around Rs 48,400. There is a possibility that the coronavirus epidemic will recur and tensions in India-China may cause a break in the stock market. Experts say that in view of all these fundamentals, investors can take a cautious approach to invest in the market.
The trade war in both countries can deepen due to India’s prohibiting the import of some Chinese products. Let us tell you that after the violent clash between the armies of the two countries in the Galawan Valley, heavy tension has arisen. Today ie Thursday (June 18, 2020) in the business of gold-silver (Today Gold Silver News) to know the strategy of trading experts know their perspective.
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 expected to fluctuate even today. However, prices will continue to be supported at lower levels. They say that there is a strong support of Rs 46,900 in gold. If the price of gold remains above Rs 47,330 in intraday, then it can jump up to the level of Rs 47,580-47,700. At the same time, silver also has strong support of Rs 47,800. They say that if the price of silver is above Rs 48,500, then it can go up to the upper level of Rs 48,900-49,150. He says that a shopping strategy should be made on the decline in gold and silver.
According to Ajay Kedia, managing director of Kedia Advisory, in today’s trading, gold on MCX can be purchased in August futures at a price of Rs 47,050 for a target of Rs 47,350-47,600. A stop loss of Rs 46,850 can be levied for this deal. At the same time, by buying silver in July futures at a price of Rs 47,900, you can achieve the target of Rs 48,400-48,800. A stop loss of Rs 47,500 should be put in silver today.
According to Angel Broking, deputy vice president (energy and currency) Anuj Gupta, gold on intraday MCX can be purchased in August futures at a price of Rs 47,100 for a target of Rs 47,600. For this gold contract, a stop loss of Rs 46,850 can be applied. On the other hand, silver should be bought at a price of Rs 48,100 for the target of Rs 48,700 in July futures. A stop loss of Rs 47,750 can be applied for this silver contract.
According to Amit Sajeja, Assistant Vice President (Commodity and Currency) of Motilal Oswal, in today’s trading, the target of Rs 47,700 can be achieved by buying gold on MCX in August futures at a price of Rs 47,200. A stop loss of Rs 46,950 should be applied for this gold deal. On the other hand, buying silver at a price of Rs 48,200 for a target of Rs 49,000 in July futures is beneficial. In today’s trading, silver can put a stop loss of Rs 47,800 in July futures.
According to Veeresh Hiremath, Head Research, Karvy Comtrade, 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 47,100. For this deal, you can put a stop loss of Rs 47,520. On the other hand, by buying silver in July futures at a price of Rs 48,300, you can achieve the target of Rs 48,800. A stoploss of Rs 48,000 should be applied for this silver contract.