Gold Silver Price Today 1st June 2023: There is a strong weakness in the prices of gold and silver. The price of gold has become cheaper by Rs 330 on MCX.
Gold Silver Price Today 1st June 2023:
There is a strong weakness in the prices of gold and silver. The price of gold has become cheaper by Rs 330 on MCX. Due to this, the price of 10 grams of gold is trading at the rate of Rs.59834. Silver prices have also fallen by Rs.260. Silver is trading at Rs 71840 per kg on MCX. The reason for the softening in the prices of gold and silver in the domestic bullion market is the strengthening of the dollar.
Gold price in international market:
Due to the strengthening of the dollar, the prices of gold and silver are also softening in the international market. Gold price on Comax is trading at $1981 per ounce. Silver is also trading at $ 23.61 per ounce. The reason for the sluggishness in gold and silver prices on COMAX is the strengthening of the dollar as well as the Fed meeting.
Outlook on Gold and Silver
Will gold and silver prices fall further? On this, Anuj Gupta, a commodity market expert and vice president of IIFL Securities, said that the prices of both are expected to strengthen in the coming days.
Anuj Gupta said that gold price on MCX will touch the level of 60500 rupees. For this, there is a buy opinion on June contract at Rs.60000 with a stoploss of Rs.59750. Similarly, there is a buying opinion on silver as well. The price of silver on MCX will touch Rs 72700 per kg. For this, it is advisable to keep a stop loss of Rs 71000.
