Gold Silver Rate Today 23 July 2021: Due to the increase in the number of people seeking unemployment allowance in America, gold and silver were strengthened on Thursday. In the last session, gold and silver were closed in the green mark on the foreign domestic futures market ie MCX. Gold and silver were trading with a fall in early trade on Thursday, but after the arrival of US European economic data in the evening session, gold and silver prices were seen getting support at lower levels. Last week, 4.19 lakh people applied for unemployment allowance in the US, while the market had estimated 3.50 lakh people. The European Central Bank has not made any changes in interest rates.
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Experts say that the long-term soft monetary policy of the European Central Bank is supporting gold and silver at the lower level due to increased demand for unemployment allowance in the US. Due to increasing demand for safe investments, increasing cases of corona in South American European countries, support in gold and silver also remains.
Opinions of experts on gold and silver
According to Ajay Kedia, managing director of Kedia Advisory:
In today’s trade, gold can be bought on MCX in August futures at a price of Rs 47,500 with a target of Rs 47,850. A stoploss of Rs 47,300 can be imposed for this gold deal. On the other hand, buying silver in September futures at a price of Rs 67,000 can achieve the target of Rs 68,400. A stop loss of Rs 67,600 should be applied for the silver contract.
According to Anuj Gupta, Vice President (Commodity & Currency) of India Infoline Securities (IIFL Securities):
In intraday gold on MCX in August futures with a target of Rs 47,800 at Rs 47,400, buying can prove to be a profitable deal. Is. You can put a stoploss of Rs 47,250 for this gold contract. On the other hand, a target of Rs 68,000 can be achieved by buying silver at Rs 67,000 in September futures. You can put a stop loss of Rs 66,500 for this silver deal.
According to Amit Sajeja, Motilal Oswal’s Vice President (Commodity & Currency):
In today’s trading, buying gold on MCX in August futures for a target of Rs 47,800 is beneficial at Rs 47,450. You can put a stoploss of Rs 47,250 for this gold deal. On the other hand, a target of Rs 67,800 can be achieved by buying silver at Rs 67,000 in September futures. You can put a stop loss of Rs 66,500 for this silver contract.
According to commodity market expert Viresh Hiremath:
In intraday MCX gold can be bought in August futures at a price of Rs 47,600 for a target of Rs 47,800. A stoploss of Rs 47,500 can be imposed for this gold deal. On the other hand, a target of Rs 67,800 can be achieved by buying silver in September futures at Rs 67,300. A stoploss of Rs 67,100 can be imposed for this silver deal.
According to Manoj Kumar Jain, Director (Commodity & Currency), Prithvi Finmart Pvt Ltd, Manoj Kumar Jain:
In today’s business, volatility in gold and silver can be seen by holding important support levels. could. He says that the support level in gold on MCX is Rs 47,480-47,300 and the resistance is Rs 47,800-48,000. On the other hand, the support level in silver is Rs 66,900-66,500 and the resistance is Rs 67,700-68,200. Manoj says that gold on MCX can be bought in August futures around Rs 47,500 for a target of Rs 47,950. A stoploss of Rs 47,280 can be imposed for this gold deal. On the other hand, a target of Rs 68,200 can be achieved by buying silver in September futures at a price of Rs 67,100. A stop loss of Rs 66,500 should be applied for this silver deal.
