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Gold Silver Rate Today 4 June 2020: Gold and silver rolled, know what strategy to make on MCX, know expert’s perspective

Mumbai: Gold Silver Rate Today 4 June 2020: Expectations of economic recovery in the economy, strengthening of global equities and good US economic data, on Wednesday, Gold Silver Price today ) Saw a steep fall in prices. In the last session, gold and silver in the overseas market touched a very important support level of $ 1,692 per ounce and $ 17.70 per ounce respectively.

On the other hand, if you talk about the domestic futures market MCX, gold touched a low of Rs 45,673 in the last session and closed around 46,000 with light recovery at the end of trading. On the other hand, silver also touched a low of Rs 47,730 during trading on Wednesday. Silver futures on MCX closed around Rs 48,400 in the previous session. Today i.e. Thursday (June 4, 2020), what strategy should be made for trading in gold and silver today. Let us know the opinion of the top experts in the country.

 

Experts opinion on trading in gold and silver

According to Manoj Kumar Jain, Director (Commodity & Currency) of Prithvi Finmart Pvt Ltd, Manoj Kumar Jain, gold and silver are likely to fluctuate in today’s session. He says that there is a possibility of buying around the support level of $ 1,692 an ounce and $ 17.70 an ounce, respectively, in gold and silver in the overseas market. Talking about the domestic futures market MCX, gold, and silver can be bought around Rs 45,700 and Rs 47,900 respectively. They say that gold and silver can hold levels of Rs 45,500 and Rs 47,400 respectively. Manoj says that gold and silver today can try to touch the resistance level of Rs 46,330-46,450 and Rs 48,700-48,920 respectively. They say that traders should avoid short selling at lower levels in intraday.

 

According to Ajay Kedia, Managing Director of Kedia Advisory, in today’s trading, gold on MCX can be profited by selling at Rs 46,400 for a target of Rs 46,050-45,650 in August futures. A stop loss of Rs 46,750 should be applied for this gold contract. On the other hand, silver can be sold in July futures at a price of Rs 48,850, and a target of Rs 48,150-47,850 can be achieved. A stop loss of Rs 49,400 can be levied for this silver deal.

According to Angel Broking Deputy Vice President (Energy and Currency) Anuj Gupta, gold on intraday MCX can be sold in August futures at a price of Rs 46,400 for a target of Rs 45,700. For this gold contract, you can put a stop loss of Rs 46,950. On the other hand, silver can sell at a price of Rs 49,000 for the target of Rs 48,000 in July futures. A stop loss of Rs 49,450 can be levied for this silver deal.

 

According to Amit Sajeja, Assistant Vice President (Commodity and Currency) of Motilal Oswal, gold on MCX in intraday can be benefited by selling at August futures at a price of Rs 46,200. Traders can achieve the target of Rs 45,750 in this gold contract. Traders should put a stop loss of Rs 46,400 for this deal. On the other hand, silver can be sold in July futures at a price of Rs 48,650 for a target of Rs 48,000. In silver, you can put a stop loss of Rs 49,000 on intraday.

According to Veeresh Hiremath, head research, Karvy Comtrade, gold on MCX in intraday can sell at Rs 46,100 for a target of Rs 45,800 in August futures. A stop loss of Rs 46,220 should be applied for this gold deal. On the other hand, silver can be sold in July futures at a price of Rs 48,500 for a target of Rs 48,000. A stop loss of Rs 48,700 should be applied for silver today.

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