The recovery in dollar from the lower level of 9 months has increased the pressure on gold in the global market and its price has come down to $ 1237, which is the lowest level of about five weeks. There has also been a fall in the holdings of the world’s largest gold fund SPDR Gold. However, in the last 6 months, gold has given investors an 8% return.
There is hardly 4 per cent increase in silver. In fact, the price of silver in the June quarter has dropped 9 percent. In this way, silver has given less returns during January to June 2017.
At present, MCX Gold is trading at Rs 28,370 with a decline of 0.25 percent. The MCX Silver is flat and is trading at Rs 38335.
@ Sold MCX Gold August at 28370, 28380 targets 28330, 28280 Stop Loss 28431.
@ Sold MCX Silver July at 38,350 to 38,335 targets 38230, 38130 Stop Loss 38489.