Mumbai: Gold Silver Rate Today 5 June 2020: On Thursday, there was a recovery in gold and silver from the lower level in the foreign market. In the last session, gold and silver touched the resistance level of $ 1,722 an ounce and $ 18 an ounce, respectively, in the overseas market. Experts say that the prices of gold and silver (Gold Silver Rate) are also getting support due to the trade balance figures which have weakened in the US. Today ie on Friday (June 5, 2020) in the business of gold-silver (Today Gold Silver News) about the views of the country’s leading experts know.
Experts’ perspective 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 in today’s business. He says that today bullion may show both a boom and a slowing. He says that for today, gold on MCX has the support of Rs 46,400-46,180 and resistance of Rs 46,800-47,050. At the same time, silver has the support of Rs 48,400-48,000 in intraday and significant resistance of Rs 48,920-49,150.
According to Angel Broking, deputy vice president (energy and currency) Anuj Gupta, in today’s trading, gold on MCX is benefiting from selling at Rs 46,900 for a target of Rs 46,100 in August futures. A stop loss of Rs 47,350 should be applied for this gold deal. On the other hand, silver can be sold at a price of Rs 49,000 for a target of Rs 48,000 in July futures. For this silver contract, a stop loss of Rs 49,450 can be applied.
According to Amit Sajeja, Assistant Vice President (Commodity and Currency) of Motilal Oswal, in today’s trading, gold on MCX can achieve a target of Rs 46,900 by buying at August futures at a price of Rs 46,450. A stop loss of Rs 46,250 can be levied for this gold deal. On the other hand, buying silver in July futures at a price of Rs 48,500 for a target of Rs 49,100 is beneficial. In today’s trade, a stop loss of Rs 48,200 should be put in silver.
According to Veeresh Hiremath, head research, Karvy Comtrade, in today’s trading, gold on MCX can be purchased in August futures at a price of Rs 46,600 for a target of Rs 47,000. A stop loss of Rs 46,400 can be placed for this gold contract. On the other hand, silver is expected to trade in a limited range today in July futures. Viresh says that in intraday silver can be traded in the range of Rs 48,400 to Rs 49,200.