Gold and Silver Prices SurgeGold and Silver Prices Surge Despite a recent decline in prices, the value of gold and silver has rebounded today due to an increase in international precious metal rates. This increase has led to a rise in the price of MCX gold, with 24-carat gold gaining Rs 109.00 to reach Rs 68,377. Similarly, silver prices have jumped by Rs 258 to Rs 81,545 per kg. Market Volatility Experts anticipate that volatility in gold prices will remain significant. Support for gold is expected at ₹ 67,000 with resistance at ₹ 69,800. For silver, support is placed at ₹ 80,200 while resistance may be encountered at ₹ 85,600. Advice for Investors For small investors looking to purchase gold for personal use, this price increase presents an opportunity. However, it is recommended to avoid buying in bulk and instead spread purchases out over time. The projected price decline of 22-carat gold to Rs 60,000 per 10 grams suggests waiting for potential further price drops. Conclusion The rise in gold and silver prices today offers valuable information for investors. By monitoring market volatility and considering expert advice, individuals can make informed decisions regarding their precious metal purchases.
gold and silver
Budget After this, there has been a huge fall in the price of gold and silver. Gold has become cheaper by around Rs 6,000 per 10 grams and silver by Rs 8,000 per kg. However, today there has been a rise in the price of gold and silver. Due to the rise in international precious metal prices, there has been a jump in the price of gold on MCX on Tuesday. The price of 24 carat gold on MCX has increased by Rs 109.00 to Rs 68,377. At the same time, the price of silver has reached Rs 81,545 per kg with a gain of Rs 258.
Volatility likely to remain high
Commodity experts say that volatility in gold prices is likely to remain high. The yellow metal may face support at ₹ 67,000 and resistance at ₹ 69,800. Support for silver is placed at ₹ 80,200 and it may face resistance at ₹ 85,600. MCX gold has fallen over 4% so far in July, while Comex gold has gained around 2.9%. This week is important for gold prices as some global central banks, including the US Federal Reserve, are set to announce their monetary policies.
What should small investors do?
If you want to buy gold for your needs, this is a good opportunity. Take advantage of the fall in the price of gold and buy the jewelry you need. However, do not buy the whole price at once. You can wait a while. If the price of gold falls, buy again. The price of 22 carat gold is expected to fall to 60 thousand per 10 grams.
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