Gold price falls by Rs 370, Silver drops by Rs 1000
Gold price on Friday is Rs 46,130 per 10 gm and price for Silver is Rs 62,500 per kg.
On Friday, the price of 10 gm of 22-carat gold drops by Rs 370 to Rs 46,130. Meanwhile, Silver is priced at Rs 62,500 per kg, down by Rs 1,000, according to the website Good Returns.
"In New Delhi and Mumbai, the gold price stands at Rs 46,420 and 46,130 per 10 gm, respectively. In Chennai, the yellow metal is priced at Rs 44,490", according to the website.
As reported by News18, "on Friday, gold prices in the international market were flat. Spot gold was priced at $1,780.43 per ounce by 0056 GMT. US gold futures was slightly changed at $1,782.40. Silver rose 0.1 per cent to $23.25 per ounce."
Sandeep Matta, founder, TRADEIT Investment Advisor said, "Gold price from past few days is closing mostly unchanged and has stuck in the range of $1770-$1790/oz. Market participants will be eyeing on upcoming economic symposium which could become the new catalyst for gold to surge. Gold on MCX is also finding its major support on Rs 47,000 and trading with short term bullish technical advantage. The outlook is positive for precious metal particularly due to heavy selloff in global equity market and increasing cases of delta variant globally. Traders are advised to follow key levels both the sides and investors can accumulate gold on every dip. Key level for gold August Contract – Rs 47,364. Buy Zone Above – Rs 47,365 for the target of 47,500-47,800. Sell Zone Below – Rs 47,350 for the target of Rs 47,000-46,800."
